It’s been just a few days since the Renault-Nissan Alliance revealed that it’s about to buy an important share in Mitsubishi and include the brand in their partnership, and yet another possible cooperation has been announced. Specifically, Toyota and Suzuki unveiled that they have agreed to start "exploring ideas that are directed towards a business partnership."
Both brands state that a collaboration may help them solve their respective challenges, as well as well as catch up with other alliances when it comes to standardization and sharing of know-how and technology. Toyota and Suzuki also claim that they will be open to other companies regarding this collaboration idea. What’s more, both companies said that they will continue to compete with each other in a "fair and independent manner." On the other hand, neither automaker said when this possible cooperation might come into effect.
“As the environment which surrounds the automobile industry has been changing drastically, we need to have the ability to respond to changes in order to survive. In addition to the R&D which each company is working on individually, it is very important now to have partners who share the same goal and passion," said Akio Toyoda, president of Toyota, while Suzuki chairman Osamu Suzuki also confirmed that talks are already underway.
One of the larger automakers in the world, Toyota current owns a majority stake in Daihatsu and Hino Motors, as well as significant shares of Fuji Heavy Industries, owner of Subaru, and Isuzu. The Japanese company has local joint ventures with FAW, PSA/Peugeot-Citroen, and Guangzhou Automobile Group. Suzuki, on the other hand, owns more than 50 percent of Maruti Suzuki and has joint ventures with Chongqing and Jiangxi in China. It also has assembly contracts with Fiat Chrysler Automobile, Mazda, and Nissan in Europe and Asia.
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