Softbank Group Corp will own more than half of MONET, which will begin with an initial capital amount of $17.5 million. Toyota plans to product the hardware and software for the vehicles, while Softbank will provide the analysis of transportation data to make sure vehicles are sent to the right places at the right times.
Honda Motor announced last week that it would take a 5.7% stake in General Motors Co's Cruise self-driving vehicle unit with an investment of $2.75 billion.
Renault SA and Daimler AG also announced last week that they may look to broaden their cooperation to mobility services and self-driving vehicles.
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