Report – Toyota and Suzuki interested in partnering on technology image

The two Japanese automakers aren’t merging or buying stakes in each other, and their technology collaboration is open for other companies as well.

Suzuki and Toyota are apparently on the verge of closing a crucial business deal that would see them become partners on developing environmental, safety, and information technology. The talks are still incipient so it’s unknown as of yet what is the extent of the collaboration. And according to a report on the subject, it’s still unknown if the partnership will result in stock acquisitions. As far as automotive business deals go, both companies are impressively frank in their official statements, as Suzuki admits it “is increasingly feeling a sense of uncertainty” over the technological progress in the industry, while Toyota says “that it may be behind competitors in North America and Europe when it comes to the establishment of standardizations and partnership with other companies.”

For now, neither partners revealed any timeframe for the collaboration and it doesn’t seem to be a merger case, the companies remaining market competitors. And the duo is also open to working with other carmakers in a bid to bring more standardization in the industry. The deal has been widely reported for months – it was first thought they would buy Daihatsu together, though Toyota eventually secured the deal alone.

Via Automotive News Europe