Five More Japanese Carmakers Join Toyota-Softbank Venture

Monet Technologies Corp., the 8-month-old joint venture between Softbank and Toyota to develop autonomous ride-hailing and delivery services, has signed up five more Japanese carmakers as equity partners.

The new members are Daihatsu, Isuzu, Mazda, Subaru and Suzuki, The Nikkei reports. They join Hino and Honda, which signed on in March.

The only Japanese carmakers who haven’t joined Monet are Nissan and its Mitsubishi Motors affiliate. Last week they announced they are partnering instead with Alphabet’s Waymo unit.

Monet intends to debut its first services in Japan before branching out to other Asian and overseas markets. The consortium enables its members to reduce development costs.