Earlier today, Toyota and Suzuki announced that they have entered into a partnership. Their collaboration will target two main domains. These will be the safety and green technologies.
Green technologies are becoming an increasingly bigger industry segment. And the emphasis put on safety is also growing. Now, both these domains will be targeted by the new partnership.
An official announcement on the matter came Monday, February 6, 2017. And it was released by Toyota and Suzuki. The two Japanese automakers have been in talks since October 2016. They have been considering a collaboration.
An official decision seems to have been reached. Early on Monday, the two declared the following. They will be entering into a partnership deal. One which will target the aforementioned areas.
The collaboration has been approved by both company boards. Toyota and Suzuki have also reportedly signed a memorandum of agreement.
Toyota Motor Corporation is an automotive manufacturer. It is based in Toyota, Aichi, Japan. It is one of the largest companies in the world. And it is considered the world market leader in the hybrid electric vehicles industry segment.
Toyota is also one of the companies to encourage the use of hybrid vehicles. It is also the producer of the Prius hybrid family.
Suzuki Motor Corporation is also a Japanese corporation. The multinational is specialized in the manufacturing of various types of vehicles. These include automobiles, ATVs, and motorcycles, to state just a few. It is also one of the largest companies and vehicle manufacturers in the world.
Presently, the company does not produce hybrid cars. Nor does it have electric or fuel cell vehicles. The collaboration may lead to its developing such vehicles.
Both companies will be especially targeting these segments. Considered ‘green’ alternative, it is an up-and-coming industry segment. Toyota and Suzuki will also be turning their attention to car safety options.
And according to the two, they may also target the information technology area. Or they could start supplying each other. They could exchange components or various products.
According to the statement, the next step has already been established. The Japanese manufacturers will have to come up with case specific cooperation projects.
Still, the automakers expressed their satisfaction for the partnership. Akio Toyoda, the Toyota President stated the following. He began by praising Suzuki’s pioneering spirit.
Toyoda states that the collaboration is a significant opportunity. It will allow them to work with Suzuki. This latter is a company which, according to him, is characterized by “the spirit of challenge”. And Toyota is looking forward to working with them.
Osama Suzuki, the Suzuki Chairman, also released a statement. And according to him, the company will be putting all its efforts into producing results. These should show Toyota that it took the right decision in entering the partnership.
Toyota and Suzuki will be commanding about 60 percent of the kei cars domain. These are domestic mini-vehicles. As such, the partnership is considered quite a huge development for both companies.
The collaboration specifics still remain to be established. Still, they will be jointly working on developing a sustainable and sound automobile-based society. And they are aiming towards environmentally-friendly cars.
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