Five automakers back Toyota's and Softbank's self-driving business

The five automakers are investing 57.10 million yen ($530,620) each into the venture in return for a 2 percent stake. That means Monet now has $26.6 million in capital, which it will use to develop on-demand self-driving shuttle services in Japan. Monet's ultimate goal is to roll out a variety of services based on Toyota's e-Palette electric vehicle, though. Businesses could use e-Palette for meal deliveries, as mobile hotels or even as mobile offices. According to Reuters, services that use the e-Palette could roll out by 2023 -- we'll most likely see the actual vehicle, which is still just a concept, before that happens.

Source: Engadget

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