Toyota and Suzuki are seeking to establish a long-term partnership with a focus on self-driving technology. Both companies recently made public their decision to invest in each other’s stock where Toyota will purchase 96 billion yen worth of Suzuki stock, while Suzuki will buy 48 billion yen worth of Toyota stock. After making the purchase, Toyota will get a 4.94% ownership stake in Suzuki.
It is not the first deal between Toyota and Suzuki. Both the companies also recently decided to use each other’s technologies to satisfy customer’s demands in different markets. Toyota approved the use of its hybrid tech available in cars like Prius while Suzuki offered two of its rebadged vehicles for Toyota. Last year, Toyota also assisted Suzuki to create an energy-efficient engine.
While it is not clear what exactly both companies desire to achieve in autonomous tech, the ultimate goal is to bring autonomous vehicles on the road as soon as possible. Toyota wants to present its fleet of self-driving cars at the 2020 Summer Olympic Games in Tokyo.
Source: Motor1.com