Toyota joins SoftBank; Facebook investigation; CNN Business

Toyota joins SoftBank; Facebook investigation; CNN Business
premarket thursday Click chart for more in-depth data.

1. The race to driverless cars: SoftBank (SFTBF) and Toyota (TM) are forming a joint venture 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 will own just over half of Monet, the new business, while Toyota will hold the rest.

It’s the latest in a series of driverless development partnerships announced by tech companies and carmakers. SoftBank’s $100 billion Vision Fund, its tech-focused investment arm, had already committed $2.3 billion to General Motors’ self-driving car unit GM Cruise.

On Wednesday, Honda (HMC) and General Motors (GM) said they were teaming up to create a new generation of fully autonomous vehicles. BMW (BMWYY) has joined the board of Apollo,…

Continue reading