Honda, Hino to join self-driving car service venture of SoftBank, Toyota

A mock of self-driving car e-Palette is displayed at a news conference by Monet Technologies Inc., a joint venture of SoftBank Group Corp and Toyota Motor Corp on self-driving technologies, in Tokyo, Japan March 28, 2019. REUTERS/Issei Kato

TOKYO: Honda Motor and Hino Motors are joining a venture of SoftBank Corp and Toyota Motor that will develop self-driving car services in Japan, as alliances between automakers and tech firms broaden. 

Under an agreement, Honda and truck maker Hino, in which Toyota owns a majority stake, would each invest around 250mil yen (RM9.24mil) in the joint venture, Monet Technologies, and take 10% stakes in the venture, Monet said on March 28.