Mazda, 4 Others to Invest in Toyota-Softbank JV

Economy

Tokyo, June 27 (Jiji Press)--Mazda Motor Corp. <7261> and four other Japanese automakers will invest in a mobility service joint venture between Softbank Corp. <9434> and Toyota Motor Corp. <7203>, informed sources have said.

The remaining four are Suzuki Motor Corp. <7269>, Subaru Corp. <7270>, Daihatsu Motor Co. and Isuzu Motors Ltd. <7202>. Each of the five is expected to take a stake of less than 10 pct.

Their participation will boost the number of leading Japanese automakers investing in the venture, Monet Technologies Inc., to eight.

Honda Motor Co. <7267> and Hino Motors Ltd. <7205> have already agreed to invest in Monet.

Meanwhile, the alliance of Nissan Motor Co. <7201>, Mitsubishi Motors Corp. <7211> and France's Renault SA has agreed to team up with self-driving technology company Waymo LLC.

[Copyright The Jiji Press, Ltd.]

Jiji Press