MUFG Bank, JICT invest in May Mobility

MUFG Bank, JICT invest in May Mobility

MUFG Bank, JICT Invest in U.S. Autonomous Vehicle Startup May Mobility

MUFG Bank, Ltd. and the Japan ICT Fund (JICT), a public-private investment initiative, have announced a joint investment in May Mobility, Inc., a U.S.-based autonomous vehicle technology company. The partnership aims to accelerate the global deployment of autonomous driving services, addressing transportation challenges exacerbated by Japan's aging population and labor shortages.

Under the agreement, MUFG Bank will leverage its financial expertise and network to support May Mobility's expansion, enabling the company to scale its fleet operations in collaboration with existing and new fleet operators. May Mobility, which operates in the United States and Japan, has deployed autonomous vehicles in cities such as Nagoya and Tokyo, targeting mobility gaps caused by declining driver availability and an aging demographic.

The company's proprietary Multi-Policy Decision Making (MPDM) technology is central to its operations. This system emphasizes safety, cost efficiency, and scalability, enabling real-time, human-like decision-making in complex traffic environments. The technology's adaptability to local conditions, honed through operations in Japan, positions it for broader adoption.

Japan's societal challenges, including a shrinking workforce and increasing driver license surrenders among the elderly, have intensified demand for alternative mobility solutions. By integrating autonomous driving into public and private sectors, MUFG Bank and JICT aim to stimulate economic growth while addressing these issues.

MUFG Bank has emphasized its commitment to co-creating industries that solve social problems, aligning with Japan's strategic focus on technological innovation. The partnership reflects a broader effort to establish a sustainable autonomous driving ecosystem, fostering social acceptance in both the U.S. and Japanese markets.

The investment underscores growing institutional confidence in autonomous vehicle technology as a tool for economic and social transformation, particularly in regions facing demographic headwinds.

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