SoftBank, Toyota’s self-driving automobile venture is to add five more of the automobile manufacturers, sources

FILE PHOTO: A mock-up of a self-driving car, the e-Palette is shown at a press conference on his art Technologies, Inc., a joint venture of SoftBank Corp and Toyota Motor Corp that it will be developing self-driving-car-services, Tokyo, Japan, on March 28, 2019. (REUTERS photo/Issei Kato/File Photo

TOKYO (Reuters) – The self-driving vehicle, a joint venture between SoftBank Corp and Toyota Motor, will receive an investment from five Japanese automakers, two sources familiar with the matter said, expanding the support for an all-Japan effort.

Mazda Motor Corp, Suzuki Motor Corp, Subaru, Corp, Isuzu Motors, and Toyota and unit Daihatsu will each take a share of a few per cent in the joint venture, the sources said.

With the move to autonomous driving and electric-powered vehicles will create ructions across the industry, and the spawning as soon as the improbable partnership, and the company’s, Monet’s, which is the development of an on-demand, self-driving service platform, hoping to help the japanese auto industry-driving the shift.

Monet, announced in October, added to the investment from Honda Motor Co and the Toyota-truck-making subsidiary Hino Motors in March, and to the left of the SoftBank Corp., the second-largest shareholder with a 40.2% and Toyota’s ownership of 39.8%.

In the Honda, and Hope, in March, the investment in the Monet, it was 2.5 billion yen ($23.20 million). It was not immediately clear how many of the five new partners have to invest in the company.

Monet declined to comment on the level of investment, which was first reported by the Nikkei. , Mazda, Suzuki, Subaru, Isuzu and Daihatsu, also declined to comment.

The firm’s head told Reuters earlier this month it was planning to expand its investor base. Monet is hoping to export it to a basic version of its service in Southeast Asia by 2020, it is targeted on the roll-out of on-demand bus and a car in Japan, and in the following year.

($1 = 107.7500 of yen)

Additional reporting by Naomi Tajitsu; Written by Sam Nussey; Editing by Muralikumar Anantharaman

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