Traditional carmakers are struggling to meet the fast pace of change being transformed by the rise of EVs, ride-hailing and autonomous driving.
Monet plans to roll out on-demand bus and car services in Japan in the next year.
SoftBank is the largest shareholder in the venture with a 40.2% share while Toyota owns 39.8%.
Fiat Chrysler Automobiles announced the plan on Monday.
Honda and Hino, in which Toyota owns a majority stake, would each invest around 250 million yen (£1.7 million) in the JV and take 10% stakes.
The companies said they will form a new joint venture would be called MONET, short for mobility network, that will start with $17.5 million in capital
It has been unable to bring its full ride-hailing services to the country as local regulations outlaw non-professional drivers from transporting payin
The data gives Toyota insight into fleet management as it develops services including futuristic concepts such as pay-per-use mobile restaurants.
The combined companies would be renamed Joyson Safety Systems.
In partnership with Japanese mobile gaming platform operator DeNA Co, Nissan will begin public field tests of its Easy Ride service in Yokohama next m
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