Toyota and SoftBank enter into joint venture for driverless vehicle services

Toyota and SoftBank are forming a joint venture to offer services using autonomous vehicles, in a sign both are making significant bets on the technology. The business, which will be called Monet Technologies Corp, will start with 2bn yen (£13.5m) in capital. It will initially be focusing on the Japanese market, offering ride-hailing services for public agencies and private companies, before looking to go global.