The Nikkei Asian Review reports that Toyota and Suzuki are nearing a comprehensive partnership agreement that will extend existing alliances between the two Japanese automakers.
Under the terms of a deal that could be announced as early as Monday, the companies are expected to collaborate on the development of technologies for self-driving and information management systems and compliance with global environmental regulations. The agreement is also said to include provisions for partnering on the procurement of parts.
For Toyota, the move is viewed as part of a strategy to reinforce its influence within the automotive sector in the face of growing competition from players in the high-tech industries. In recent years, the company has established business partnerships with Subaru parent Fuji Heavy Industries, Isuzu Motors and BMW, and joined Ford, Fuji, Mazda and Suzuki as part of the SmartDeviceLink Consortium.
Suzuki has been pursuing an industry partner after its tie-up with Volkswagen ended in 2015.
The deal is expected to increase the number of vehicles that Toyota annually produces in conjunction with its partners to over 18 million units.
Read full article at: Nikkei Asian Review »