SoftBank and Toyota want driverless cars to change the world

SoftBank and Toyota want driverless cars to change the world
Meet 'crazy' tech tycoon Masayoshi Son

SoftBank and Toyota want to change the world of transportation through autonomous vehicles and other technologies.

The high-profileJapanese companies are forming a joint venture called Monet to develop businesses that will use driverless-car technology to offer new services, such as mobile convenience stores and delivery vehicles in which food is prepared en route.

SoftBank (SFTBF) will own just over half of Monet, while Toyota (TM) will hold the rest.

The new company’s name isn’t a reference to Claude Monet, the famous French painter, but rather a shortened version of the words “mobility network.”

Toyota President Akio Toyoda and SoftBank CEO Masayoshi Son attended the announcement of the project Thursday in Tokyo, a rare joint appearance by the heads of two of Japan’s biggest global companies.

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