The companies Toyota and SoftBank are now planning to bring a revolutionary change in the world of transportation, as it seems, and the companies are focusing on a few technologies including the autonomous vehicles to accomplish the same, as per the reports. Both are high profile companies and are Japanese by origin, and now it seems that both of them have decided to join hands for a better future. The companies are planning to form a joint venture which will be called as Monet, and this is expected to help in the development of all those businesses that will use this technology of driverless-cars, in order to provide improved services like delivery vehicles along with the mobile convenience stores.
The company SoftBank will own not more than a little over half of the venture Monet and the rest of it will be owned by Toyota. The name of this venture although resembles a famous French painter, it is confirmed that there is no connection between the two and the name is rather a shortened version of the term mobility network. During the announcement of this project, which was done in an event held in the city of Tokyo on Thursday, the President of Toyota Akio Toyoda and SoftBank CEO Masayoshi Son was present, making it quite a rare appearance.
According to the reports, it was Toyota who took the initiative of going to the other company with this unique idea of creating an alliance to compete with the rivals which are focusing on this driverless technology. Many carmakers around the world are focusing on this technology, which include Alphabet; the parent company of Google, and the Chinese giant Baidu, among other companies. This driverless technology will certainly cause a disruption in this field while completely transforming the ride-sharing business as well.
Before turning out to be a full-time writer and editor, James Tidwell was a blogger who wrote his outlooks and viewpoints relating to Entertainment and Sports. Owing to his interest and absolute fineness of playing with world beautifully, he was appointed to dabble in Entertainment and Sports world.