Toyota and Suzuki will further expand their technology partnership by working on collaborations in new fields as a result of a newly signed agreement announced today. The two companies first signed a memorandum of understanding on February 6, 2017, and are now exploring ways to deepen the partnership and make it more efficient.
As a part of the new contract, Toyota will supply hybrid technologies to Suzuki for global use. In addition, Toyota will also give Suzuki two electrified vehicles, the RAV4 and Corolla Wagon, for market release in Europe. Suzuki of India, in turn, will benefit from hybrid technologies for local distribution.
In return, Suzuki will supply two compact vehicles, the Ciaz and Ertiga, which will be rebadged by Toyota for the Indian market. Also, Toyota will receive Suzuki engines for compact cars and will produce them in Poland for distribution over the Old Continent. Toyota will also rebadge the Baleno, Vitara Brezza, Ciaz, and Ertiga and sell them in Africa.
The two automakers will also develop a new C-segment MPV which will be sold with both the logos of Toyota and Suzuki. This model will be developed exclusively for India and the region.
“Through our new agreement, we look forward to the wider use of hybrid technologies, not only in India and Europe, but around the world,” Akio Toyoda, president of Toyota, comments. “At the same time, we believe that the expansion of our business partnership with Suzuki―from the mutual supply of vehicles and powertrains to the domains of development and production―will help give us the competitive edge we will need to survive this once-in-a-century period of profound transformation.”
The new agreement won’t stop the two brands from competing against each other “fairly and freely.”
Check out the press release section below for more information.
oyota Motor Corporation (Toyota) and Suzuki Motor Corporation (Suzuki) today announced their agreement to begin considering concrete collaboration in new fields.
Toyota and Suzuki have been considering the concrete details of such collaboration since having concluded a memorandum of understanding toward business partnership on February 6, 2017.
Toyota and Suzuki, in addition to bringing together Toyota's strength in electrification technologies and Suzuki's strength in technologies for compact vehicles, intend to grow in new fields, such as joint collaboration in production and in the widespread popularization of electrified vehicles. Details of intended areas of collaboration are outlined in the table below.
New collaborative business
Moving forward, insofar as Toyota and Suzuki continue to fairly and freely compete against each other, both companies intend to consider further collaboration to realize a sustainable future mobility society while respecting all applicable laws.
Toyota President Akio Toyoda said"When it comes to vehicle electrification, which is expected to make further inroads, hybrid technologies are seen as playing a huge role in many markets, as from before. Widespread acceptance is necessary for electrified vehicles to be able to contribute to Earth's environment. Through our new agreement, we look forward to the wider use of hybrid technologies, not only in India and Europe, but around the world. At the same time, we believe that the expansion of our business partnership with Suzuki―from the mutual supply of vehicles and powertrains to the domains of development and production―will help give us the competitive edge we will need to survive this once-in-a-century period of profound transformation. We intend to strengthen the competitiveness of both our companies by applying our strong points and learning from each other."
Suzuki Chairman Osamu Suzuki said"At the time we announced our scope of cooperation in May last year, I spoke that we will strive for success globally. I have seen progress in the partnership since then, and it is my pleasure to be able to make this announcement today regarding the status of partnership on a global basis, including Europe and Africa. In addition, we appreciate the kind offer from Toyota to let us make use of their hybrid technology. We will continue our utmost efforts."