Toyota, Softbank to enter into a JV for self-driven cars & other technology


Toyota Motor Corp and SoftBank Group Corp will announce a partnership on automated driving and other technology on Thursday, sources with knowledge of the matter told Reuters.

The companies plan to hold a news conference later in the day. Toyota President Akio Toyoda and SoftBank Group CEO Masayoshi Son will attend a session to be held alongside the conference, they said in a joint statement, without providing additional details.

Japan's highest-profile companies will announce that they will partner up to develop self-driving vehicles and other new mobility technologies, the sources said on condition of anonymity as the nature of the announcement was confidential.

They will form a joint venture, the sources said.

Partnerships in automated driving technologies are on the rise as established players fear being left behind in the rapidly changing industry. Read Complete Article


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