March 28, 2019 / 2:26 AM / 6 months ago

SoftBank, Toyota self-driving car service JV enlists Honda, Hino as partners

TOKYO, March 28 (Reuters) - Monet Technologies, a joint venture between SoftBank Corp and Toyota, on Thursday said it had agreed to partner with Honda Motor Co and Japanese truck maker Hino Motors Ltd to develop self-driving car services.

Under the agreement, Honda and Hino, in which Toyota owns a majority stake, would each invest around 250 million yen in Monet, and take 10 percent stakes in the joint venture, Monet said.

Monet aims to initially provide ride-hailing services before rolling out a platform for operating self-driving vehicles in the later half of the 2020s. (Reporting by Naomi Tajitsu; Editing by Stephen Coates)

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