Nissan Max-Out Convertible Concept Unveiled At Nissan Futures Event

More

Mercedes-Benz GLE Gets New PHEV Powertrain, Fresh Look

More

2024 Mazda CX-90 Plug-in Hybrid SUV Unveiled

More

Audi Activesphere Concept is luxury crossover that turns into a pickup

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Toyota and Suzuki Enter into Capital Alliance Agreement

Toyota Motor Corporation and Suzuki Motor Corporation announced that the two companies entered into an agreement regarding a capital alliance (the “Alliance”), in order to establish and promote a long-term partnership between the two companies for promoting collaboration in new fields, including the field of autonomous driving.

The two companies began considering business partnership on October 12, 2016, and since then have continued to consider specific details. On March 20 of this year, the companies announced that they would begin specific considerations in order to engage in joint product development and collaboration in production, in addition to promoting the mutual supply of products, by bringing together Toyota’s strength in electrification technologies and Suzuki’s strength in technologies for compact vehicles.

Separately, the automobile sector is currently experiencing a turning point unprecedented in both scope and scale, not only because of enhanced environmental regulations, but also from new entries from distinct industries and diversified mobility businesses. The two companies intend to achieve sustainable growth, by overcoming new challenges surrounding the automobile sector by building and deepening cooperative relationships in new fields while continuing to be competitors, in addition to strengthening the technologies and products in which each company specializes and their existing business foundations.

Specifically, to take up challenges together in this transitional era, the two companies plan to establish and promote a long-term partnership between the two companies for promoting collaboration in new fields, including the field of autonomous driving.

The execution of the capital alliance agreement is a confirmation and expression of the outcome of sincere and careful discussions between the two companies, and it will serve for building and promoting their future partnership in new fields.

In order to develop and promote a long-term partnership between the two companies, the companies plan to acquire each other’s shares based on the Alliance.

Toyota plans to acquire 24,000,000 shares of common stock in Suzuki (4.94% ownership of the total number of shares issued by Suzuki as of March 31, 2019 (excluding treasury shares) with a total value of JPY 96 billion or about €819 million) by underwriting the disposition of treasury shares by way of third-party allotment conducted by Suzuki.

Likewise, Suzuki plans to acquire, through purchase in the market, shares in Toyota equivalent to JPY 48 billion (about €409 million).

These share acquisitions will be implemented after the companies obtain approvals from the foreign competition authorities.

Aug 29, 2019Blagojce Krivevski
Cummins Partners with the University of California San Diego on Second-Life Battery DevelopmentPEUGEOT 3008 SUV GT Hybrid4 will be available to order in late 2019
You Might Also Like
 
ChargePoint and Gatik partner to develop an electric ecosystem for autonomous electric trucks
 
Volvo 360c autonomous concept revealed
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

August 29, 2019 Electric Car NewsAutonomous Drive, Suzuki, toyota
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
Recent News
GM and Netflix Partner to Give EVs the Stage they Deserve
February 4, 2023
Volvo Cars reports January sales – 40.7% market share of electrified cars
February 3, 2023
Polestar and Luminar expand partnership to include Polestar 5
February 3, 2023
XPENG Launches G9 SUV And P7 Sedan For Europe
February 3, 2023
Volkswagen launches ID.4 campaign in collaboration with Marvel Studios’ Ant-Man and The Wasp: Quantumania
February 3, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
GM and Netflix Partner to Give EVs the Stage they Deserve
February 4, 2023
Volvo Cars reports January sales – 40.7% market share of electrified cars
February 3, 2023
Polestar and Luminar expand partnership to include Polestar 5
February 3, 2023
Subscribe

Sign up for our newsletter to receive the latest news and event postings.

Get in touch

Email: [email protected]

Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.