Monday, Sep 28, 2020 | Last Update : 11:41 AM IST

188th Day Of Lockdown

Maharashtra1339232103001535571 Andhra Pradesh6756746050905708 Tamil Nadu5808085251549313 Karnataka5755664622418582 Uttar Pradesh3870853258885594 Delhi2644502284365147 West Bengal2410592110204665 Odisha201059165432820 Telangana1858331544991100 Bihar175898161510881 Assam167374136712625 Kerala160935111327636 Gujarat1303911105923394 Rajasthan1247301042881412 Haryana1205781012731273 Madhya Pradesh117588932382152 Punjab107096840253134 Chhatisgarh9856566860777 Jharkhand7770964515661 Jammu and Kashmir69832495571105 Uttarakhand4533233642555 Goa3107125071386 Puducherry2548919781494 Tripura2412717464262 Himachal Pradesh136799526152 Chandigarh112128677145 Manipur9791760263 Arunachal Pradesh8649623014 Nagaland5768469311 Meghalaya5158334343 Sikkim2707199431 Mizoram178612880
  Business   Autos  28 Aug 2019  Toyota, Suzuki partnering in self-driving car technology

Toyota, Suzuki partnering in self-driving car technology

AP
Published : Aug 28, 2019, 4:13 pm IST
Updated : Aug 28, 2019, 4:13 pm IST

Toyota will take a 4.9 per cent stake in Suzuki Motor Corp. valued at 96 billion yen (USD 908 million).

 Toyota and Suzuki are also cooperating in the Indian market, where Suzuki remains a strong player.
  Toyota and Suzuki are also cooperating in the Indian market, where Suzuki remains a strong player.

Tokyo: Japan's top automaker, Toyota, and smaller rival Suzuki are partnering in the development of self-driving car technology, as manufacturers around the world grapple with innovations in the industry.

Under the deal, announced Wednesday, Toyota will take a 4.9 per cent stake in Suzuki Motor Corp valued at 96 billion yen (USD 908 million), and Suzuki will make a 48 billion yen (USD 454 million) investment in Toyota.

 

In 2017, Toyota Motor Corp. and Suzuki agreed to work together in ecological and safety technology. That deal did not include owning mutual stakes.

Auto manufacturers are facing a costly shift toward the use of artificial intelligence, the internet and other technologies. Partnerships are one way to share the enormous costs.

Last month, Volkswagen AG of Germany said it is investing USD 2.6 billion in a Pittsburgh autonomous vehicle company that's mostly owned by Ford, Argo AI, with a plan to put autonomous vehicles on the roads in the US and Europe as early as 2021.

Under the deal, Ford will use VW's electric vehicle platform to build zero-emissions cars for the European market starting in 2023.

 

In February, BMW and Daimler said they are working together on self-driving cars.

Under their earlier agreement signed in 2017, Toyota and Suzuki are also cooperating in the Indian market, where Suzuki remains a strong player.

They said they will continue to expand their collaboration.

"The automobile sector is currently experiencing a turning point unprecedented in both scope and scale," Toyota and Suzuki said in a statement, referring to stronger environmental regulations as well as newcomers in the mobility business.

They said deepening their relationship will help both companies grow and meet challenges.

Google autonomous vehicle spinoff Waymo is among the new players. Uber, which offers ride-hailing services and food delivery, is also working on autonomous driving.

 

Toyota, the maker of the top-selling hybrid, Prius, has invested in Uber.

Tags: toyota, suzuki, self-driving car, partnership
Location: Japan, Tokyo-to, Tokyo