For Toyota, they see an opportunity with Suzuki to get more traction/presence in emerging markets, especially in the booming car market in India.
While Suzuki wants access to Toyota’s future-driven technologies, including hybrid and hydrogen power-trains.
Toyota Motor Corp and Suzuki Motor Corp announced the new partnership overnight, at this stage though neither car company is taking a financial stake in the other.
“Toyota and Suzuki have agreed to work toward the early realization of a business partnership,” they said in the joint statement.
Suzuki recently admitted that it was struggling to keep up with research and development, particularly in non-petrol engines and self-driving vehicles.
Toyota has long struggled to win market share in India where drivers prefer the type of affordable compact cars in which Suzuki excels.
“We would be happy to share lessons we learned from our experience in India and emerging markets with Toyota if they wish, to make this a win-win partnership for both parties,” says Suzuki Vice Chairman Yasuhito Harayama.
We will bring you more news on the new Japanese car brand partnership as it comes to hand.