Toyota, Suzuki Reportedly Approaching Technology Partnership Agreement

The advent of driverless cars has brought together many companies across the world in an endeavour to further develop the technology. The latest pair reportedly on its way to announcing a partnership are Toyota Motor Corp and Suzuki Motor Corp. According to business daily Nikkei, the two are approaching an agreement to develop technology, including self-driving. The publication adds that the two companies could announce a deal as soon as Monday.

Toyota Concept i

In addition to self-driving technology, the association will also encompass development of applications for information technology and growth to keep up with global standards. Toyota and Suzuki are also expected to co-operate for sharing sources for parts in Japan and abroad.

In order to evade risks related to antitrust laws, Suzuki and Toyota's Daihatsu Motor will continue to sell cars under their separate brands. However, they will deliberate a capital tie-up, including cross-shareholdings, in the future to expand the scope of their partnership.

Suzuki and Toyota are yet to comment on this reported development.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Shounak Dasgupta)