A PYMNTS Company

Japan: Toyota, Suzuki near partnership agreement

 |  February 5, 2017

Toyota Motor and Suzuki Motor are near an agreement on a comprehensive partnership covering areas such as development and procurement, it was learned Friday.

The two Japanese automakers could announce a deal as soon as Monday, setting specific points of cooperation later. On the development side, these are expected to include self-driving technology and applications for information technology, as well as advancements needed to keep up with increasingly strong global environmental standards. Partnering on procurement could involve sharing sources for parts in Japan and abroad.

Toyota has deemed it necessary to bolster cooperation with other automakers in order to maintain its influence as nontraditional players such as tech companies stoke competition in the auto sector. Suzuki has sought a powerful partner since dissolving a capital and business tie-up with Germany’s Volkswagen in 2015. Suzuki Chairman Osamu Suzuki last year approached Shoichiro Toyoda, Toyota’s honorary chairman, regarding collaboration.

Full Content: Asia Nikkei

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.