Japanese auto majors Toyota and Suzuki on Monday agreed to begin concrete examinations for business partnership in areas of environment, safety and information technology along with supply of products and components.
Toyota Motor Corporation and Suzuki Motor Corporation have agreed to start exploring ideas directed towards business partnership, as announced on October 12, 2016, the two companies said in a statement.
“Since then, the companies have shared with each other their challenges and have been discussing areas of collaboration in a manner that ensures fair and free competition.” it added.
“Toyota and Suzuki have agreed to work toward the early realization of business partnership. To that end, the two companies are to immediately establish an implementation framework aimed at bringing to realization the points agreed on Monday,” it added.
The companies have agreed to begin concrete examinations towards the realisation of business partnership in areas including environmental technologies, safety technologies, information technologies, and mutual supply of products and components.
They will aim to jointly contribute to the resolution of social issues and achievement of sound and sustainable development of an automobile-based society.
Commenting on the development, Toyota President Akio Toyoda said: “...we want to cooperate toward enabling all people throughout the world to truly experience the joy of mobility and to achieving a society of future mobility full of smiles.
“I am truly thankful for having been given this opportunity to work together with a company such as Suzuki, which overflows with the spirit of challenge. Toyota looks forward to learning much.”
Suzuki Chairman Osamu Suzuki said: “Under the leadership of President Akio Toyoda, Toyota was enthusiastic throughout our discussions regarding partnership, even though such was sought by Suzuki, which was concerned about the development of advanced technologies.”
He further said: “In response to Toyota’s display of enthusiasm, Suzuki also intensively engaged in the discussions, and we now stand at the starting point for building a concrete cooperative relationship.”
Last year in October, the two Japanese automobile manufacturers had announced plans to explore business partnership to strengthen collaboration in the fields of environment, safety, and information technology.