Toyota and SoftBank Said to Team Up in Self-Driving and Other Technology

Toyota and SoftBank Said to Team Up in Self-Driving and Other Technology
  • The companies will announce partnership on automated driving on Thursday
  • Toyota's Akio Toyoda and SoftBank's Masayoshi Son will attend the session
  • Toyota and SoftBank do not have any partnerships in mobility technologies

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.

On Wednesday, Honda Motor Co said it would invest $2.75 billion (roughly Rs. 20,100 crores) and take a 5.7 percent stake in General Motors Co's Cruise self-driving vehicle unit, in which SoftBank is also an investor.

At the Paris Auto Show on Wednesday, the heads of Daimler AG and Renault said the two companies may expand their cooperation to batteries, self-driving vehicles and mobility services.

Toyota and SoftBank do not have any major partnerships in mobility technologies at the moment, although both are developing technologies for self-driving vehicles, car sharing and other services.

Toyota, one of the world's largest automakers, has been developing automated driving and artificial intelligence technologies in-house and with its group suppliers, while acquiring some technology start-ups.

Both Toyota and SoftBank have investments and partnerships with Uber Technologies and ride-hailing firm Grab, and Didi Chuxing.

The automaker envisions the future of transportation services will include convoys of shuttle bus-sized, self-driving multi-purpose vehicles used, for instance, as pay-per-use mobile restaurants and hotels.

SoftBank has its own autonomous vehicle unit, SB Drive, which has been developing self-driving technology for buses.

© Thomson Reuters 2018


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Japan, Akio Toyoda, Masayoshi Son
LG V40 ThinQ With Five Cameras, 6.4-Inch OLED Display Launched: Price, Specifications, Features
LG Watch W7 Hybrid Smartwatch With Wear OS by Google, Snapdragon Wear 2100 SoC Launched
Share on Facebook Tweet Snapchat Share Reddit Comment



© Copyright Red Pixels Ventures Limited 2022. All rights reserved.