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> Two Japanese titans say they're teaming up for self-driving car services, Toyota plus the country's biggest tech company, SoftBank. The new venture aims to use the autonomous tech in hospital shuttles and as pay per use mobile restaurants and shops. But while SoftBank is famous for investing in tech startups all over the world, they tend to be very small companies.
As Reuters Tokyo correspondent Sam Nassi explains.>> Seeing a company like SoftBank and Toyota come together in this way is really very unusual. And it reflects really the scale of the challenge that these traditional automakers are seeing. And adapting to this new emerging technology for autonomous driving and connective cars.
>> Honda has also announced it's taking a stake in GM's self-driving unit. These tie ups show that even big well funded firms want to share costs and expertise. Especially when it comes to promising, but risky, automotive technologies that haven't yet got widespread consumer acceptance.>> Now the drone venture itself is pretty small, only 30 people are gonna be working there.
And they said that it came out of conversation from young members of the company. And also the timeline for the commercialization of these vehicles is pretty long, we're talking about years into the future. But nevertheless it is really the start of a new partnership.>> The joint company will be called MONET, short for mobility network.
It will initially focus on Japan and, eventually, aims to go global by the late 2020s.