Hyperdrive
Toyota, Suzuki to Deepen Ties
- Carmakers are striking partnerships as industry transforms
- Toyota set to benefit from Suzuki’s expertise on India
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Toyota Motor Corp. and Suzuki Motor Corp. are strengthening their relationship by taking stakes in one another, the latest alliance in an industry that’s facing sweeping changes in technology, consumer preferences and business models.
Japan’s biggest automaker will acquire about 5% of Suzuki shares for about 96 billion yen ($907 million), while Suzuki will get a smaller holding valued at about 48 billion yen in Toyota, the automakers said in statements Wednesday.