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Toyota And SoftBank To Establish JV For New Mobility Services

Toyota Motor Corp. (TM,TYT.L) and SoftBank Corp. have agreed to form a strategic partnership to facilitate the creation of new mobility services, and plan to establish a joint venture company, MONET Technologies Corporation, before the end of the 2018 fiscal year, Toyota Motor said.

Toyota noted that the name "MONET" combines the first letters of the words "mobility network," and was chosen to embody the desire of both companies to build a mobility network that provides safer and more comfortable mobility to everyone.

Toyota stated that MONET will provide coordination between Toyota's Mobility Services Platform or "MSPF", Toyota's information infrastructure for connected vehicles, and SoftBank's Internet of Things (IoT) Platform, which was built to create new value from the collection and analysis of data acquired from smartphones and sensor devices.

For the first phase, MONET plans to roll out just-in-time vehicle dispatch services for local public agencies and private companies throughout Japan. These services, which will include on-demand transportation through regional partnerships and corporate shuttles, will be provided in tune with user demand.

By the second half of the 2020s, MONET plans to roll out Autono-MaaS or autonomous mobility as a service businesses using e-Palette, Toyota's battery electric vehicle for mobility services that can be used for various purposes, including mobility, logistics, and sales.

The company said possibilities include demand-focused just-in-time mobility services, such as meal deliveries vehicle where food is prepared while on the move, hospital shuttles where onboard medical examinations can be performed, mobile offices, and many more. MONET also intends to roll out these businesses in Japan with an eye to future expansion on the global market.

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