Japanese carmaker Toyota has laid the groundwork for its complete transition to mobility services, with spending in the sector estimated to be $1.34tn by 2030, according to Accenture. SoftBank Group Corp. Toyota, Volkswagen and other carmakers face an uncertain future as new technologies and business models ripple through the $2.23 trillion global auto industry. Toyota has already invested in the world's top three ride-hailing providers, partnered with SoftBank to launch transportation firm Monet Technologies and is set to launch six electric vehicles by 2025. The company also plans to invest heavily into autonomous driving technology, which will allow it to offer a fully self-driven car within five years.
Japanese carmaker Toyota has laid the groundwork for its complete transition to mobility services, with spending in the sector estimated to be $1.34tn by 2030, according to Accenture. Toyota has already invested in the world's top three ride-hailing providers, partnered with SoftBank to launch transportation firm Monet Technologies and is set to launch six electric vehicles by 2025. The company also plans to invest heavily into autonomous driving technology, which will allow it to offer a fully self-driven car within five years.