Softbank, Toyota form JV for mobility services in Japan

Japan’s Softbank and automaker Toyota announced plans to form a joint venture by April 2019 to provide launch Mobility-as-a-Service (MaaS) in the country. The company, called Monet Technologies, will combine Toyota’s mobility services platform and information infrastructure for connected vehicles with Softbank’s Internet of Things platform, the companies said in a joint statement.

Initially, Monet plans to roll out just-in-time vehicle dispatch services for Japanese public agencies and private companies to meet user demand. Those services include on-demand transportation service and corporate shuttles.

By the second half of the 2020s, Monet intends to launch an autono-MaaS (autonomous mobility as a service) businesses, using Toyota’s e-Palette battery electric vehicles.

These vehicles will deliver meals with food prepared in the vehicles, provide hospital shuttles where onboard medical examinations can be carried out onboard.  These vehicles can also serve as mobile offices, Softbank said.

Softbank said Monet will roll out its mobility services in Japan before focusing on future expansion to the global market.

The joint venture will have initial capital of 2 billion yen ($17.49 million), and this will be increased to 10 billion yen in future.

Softbank will own 50.25% of the JV and Toyota take the remaining 49.75%.

SoftBank Corp representative director and CTO Junichi Miyakawa will be president and CEO of the new joint venture.