MONET forms capital and business partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda

2 MinutesBy NZ Trucking magazineJuly 1, 2019

MONET Technologies Inc. has concluded capital and business partnership agreements with Isuzu Motors Limited, Suzuki Motor Corporation, Subaru Corporation, Daihatsu Motor Co., Ltd, and Mazda Motor Corporation, respectively. Isuzu, Suzuki, Subaru, Daihatsu and Mazda each plan to invest in MONET by August 2019 and acquire approximately 2% of its shares.

Simultaneously, Hino Motors, Ltd and Honda Motor Co Ltd plan to make additional investments in MONET and maintain their respective ownership stakes of approximately 10%.

“In addition to those with Toyota, Hino and Honda, our new partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda will enable us to acquire data on their vehicles and mobility services for coordination with the MONET platform,” said Junichi Miyakawa, president and CEO of MONET Technologies Inc.

“To build a high-level MaaS platform for an autonomous driving society, it is essential to integrate a wide number of datasets, and these partnerships will further accelerate our progress in building the MaaS business that MONET is aiming for. MONET will utilise the data provided by each company and leverage their automotive industry insights and networks. Together with our automotive manufacturer partners we will work to realise and spread innovative mobility services that can resolve Japan’s social mobility issues and create new value.”

Isuzu Motors Limited president and representative director Masanori Katayama said that the automobile industry is facing a ‘once-in-a-century innovation‘ era with social issues such as serious driver shortages and the diversification of consumer needs, and Isuzu aims to create new solutions through collaborating with customers and partners.

“In view of this, participation in MONET will bring us tremendously valuable opportunities in a wide variety of industries so that we will make a contribution to sustainable society development.”