Toyota and Suzuki confirm new alliance
Toyota and Suzuki have announced a capital alliance agreement which will see the two companies work together in product development and production.
To underpin the alliance both companies will buy shares in each other’s companies.
A statement said, ‘Separately, the automobile sector is currently experiencing a turning point unprecedented in both scope and scale, not only because of enhanced environmental regulations, but also from new entries from distinct industries and diversified mobility businesses.
‘The two companies intend to achieve sustainable growth, by overcoming new challenges surrounding the automobile sector by building and deepening cooperative relationships in new fields while continuing to be competitors, in addition to strengthening the technologies and products in which each company specialises and their existing business foundations.
‘Specifically, to take up challenges together in this transitional era, the two companies plan to establish and promote a long-term partnership between the two companies for promoting collaboration in new fields, including the field of autonomous driving.’
