Toyota Motor Corp. and SoftBank Group Corp. on Thursday announced they will set up a joint venture developing self-driving cars and ride-sharing services, with the new mobility firm to be launched next year.
Toyota and SoftBank already share a connection through Uber Technologies Inc., with SoftBank being the U.S. firm's largest shareholder and Toyota working with the company in developing vehicles with autonomous driving features, Xinhua reports.
The new joint venture comes at a time of intensifying global competition to commercialize driverless cars, with IT heavyweights such as Apple Inc. and Google Inc. having already launched initiatives in this direction.
Source: Kazinform News Agency
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
When citing our content a hyperlink to this Kazakhstan Today website is obligatory.