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Wednesday, 20 March 2019, 16:14 HKT/SGT
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Source: Toyota Motor Corporation
Toyota and Suzuki Agree to Start Consideration Toward New Collaboration

TOKYO, Mar 20, 2019 - (JCN Newswire) - Toyota Motor Corporation and Suzuki Motor Corporation has announced their agreement to begin considering concrete collaboration in new fields.

Toyota and Suzuki have been considering the concrete details of such collaboration since having concluded a memorandum of understanding toward business partnership on February 6, 2017.

Toyota and Suzuki, in addition to bringing together Toyota's strength in electrification technologies and Suzuki's strength in technologies for compact vehicles, intend to grow in new fields, such as joint collaboration in production and in the widespread popularization of electrified vehicles. Details of intended areas of collaboration can be viewed at Toyota's website.

Moving forward, insofar as Toyota and Suzuki continue to fairly and freely compete against each other, both companies intend to consider further collaboration to realize a sustainable future mobility society while respecting all applicable laws.

"When it comes to vehicle electrification, which is expected to make further inroads, hybrid technologies are seen as playing a huge role in many markets, as from before. Widespread acceptance is necessary for electrified vehicles to be able to contribute to Earth's environment. Through our new agreement, we look forward to the wider use of hybrid technologies, not only in India and Europe, but around the world. At the same time, we believe that the expansion of our business partnership with Suzuki---from the mutual supply of vehicles and powertrains to the domains of development and production--will help give us the competitive edge we will need to survive this once-in-a-century period of profound transformation. We intend to strengthen the competitiveness of both our companies by applying our strong points and learning from each other," said Toyota President Akio Toyoda.

"At the time we announced our scope of cooperation in May last year, I spoke that we will strive for success globally. I have seen progress in the partnership since then, and it is my pleasure to be able to make this announcement today regarding the status of partnership on a global basis, including Europe and Africa. In addition, we appreciate the kind offer from Toyota to let us make use of their hybrid technology. We will continue our utmost efforts," said Suzuki Chairman Osamu Suzuki.

About Toyota Motor Corporation

Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926


Source: Toyota Motor Corporation

Topic: Press release summary
Sectors: Automotive
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