TOYOTA and Softbank set up a travel service joint venture with initial funding of 2 billion yen.


TOYOTA and Softbank set up a travel service joint venture with initial funding of 2 billion yen.

Xinhua News Agency, Tokyo, October 4 (Reporter Qian Zheng Huayi) Japan Toyota Motor Company and Softbank announced on the 4th, jointly funded the establishment of a company dedicated to providing new travel services.

The new company will rely on Toyota's travel service platform and Softbank's Internet of Things platform to provide users with the most responsive travel services.

The initial capital of the company is 2 billion yen ($1.114 yen) and will rise to 10 billion yen in the future, with Softbank and Toyota contributing 50.25% and 49.75% respectively. Company services involve on-demand travel service, data analysis service and automatic driving service.

Toyota President Toyoda said on the same day that the automotive industry is ushering in the era of once-in-a-century change, to expand Toyota from a car manufacturer to a mobile company that also provides travel-related services. For this reason, cooperation with Softbank is very necessary.

The industry generally believes that the next generation of vehicles have four pillars of technology, namely interconnection, automatic driving, sharing and electrification, and IT technology is the core of the four pillars of technology. Therefore, the cross industry alliance between traditional automobile manufacturers and IT enterprises has become a trend.


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