Toyota and Suzuki join forces
Toyota and Suzuki announced their signing of a memorandum of agreement to work together on rapidly growing areas of ecological and safety technology, following approval by company boards.
In the future, they also plan to possibly collaborate on information technology and supply each other with products and components. The next step is to come up with specific cooperation projects.
Currently, Suzuki does not have a hybrid, electric or fuel-cell vehicle in its lineup. Self-driving cars is also a growing focus.
Toyota President Akio Toyoda praised Suzuki’s pioneer spirit. “I am truly thankful for this opportunity to work together with a company like Suzuki, which overflows with the spirit of challenge. Toyota looks forward to learning much” says Akio.
Developing futuristic technology is costly and the companies hope to reduce costs by working together. Furthermore, Toyota and Suzuki are encouraging others to join the partnership.
Chairman of Suzuki Osamu Suzuki says: “We now stand at the starting point for building a concrete cooperative relationship. I want to give this effort our fullest. We aim to produce results that will lead Toyota to conclude it’s the right decision to work together with Suzuki.”
Suzuki says the company courted Toyota on such a partnership for years. Toyota leads the world in selling petrol-electric hybrids, with the Prius, and is working on fuel cells and electric vehicles. Emissions regulations are tightening around the world, amid growing environmental concerns and global warming.
Original article can be found at IOL