The news comes from Hybrid Cars that the two automotive giants, Toyota and Mazda are looking forward to form an alliance to work on 10 potential projects. The report suggests that the executive vice president of Mazda, Akira Marumoto also stated that the talks between Toyota and Mazda have been going on since last year, but when asked for more information, he declined to comment.
Considering the auto industry is currently looking and innovating more ways to develop fuel-efficient vehicles, it is believed that Toyota and Mazda will also team up to develop electric vehicles and connected cars. Toyota has also recently bought Daihatsu Motor Co and is currently in talks with Suzuki to join hands for building autonomous vehicles and electric cars.
The partnership between the automakers will be beneficial for both, as it will reduce the financing costs. Toyota is also the largest shareholder of Hino Motors Ltd and owns a major part of the Fuji Heavy Industries Ltd.
Last year, we got to know that Toyota will partner up with Mazda to work on powertrain and hybrid technologies, but now we believe that this collaboration will contribute even more toward the auto industry.