The Japanese car manufacturers Toyota Motor and Suzuki Motor have entered into a mutual stock deal. The two companies are thus expanding their existing alliance.
Toyota has taken a stake of approximately 5 percent in Suzuki for around 96 billion yen, equivalent to 820 million euros, which in turn takes a smaller stake in Toyota for 48 billion yen. In 2017, both companies signed a technological cooperation pact, such as electric and self-driving cars. Toyota can also use Suzuki’s knowledge of the fast-growing Indian car market. In 2020 the companies want to build electric cars together in India.
Toyota also has interests in Japanese counterparts Mazda Motor and Subaru and also works with these companies on electric cars.