Toyota enters capital alliance with Suzuki to strengthen strategic partnership

Two partners aim to expand cooperation to cover new technology fields such as autonomous driving

Toyota Motor and Suzuki Motor have agreed to enter into a capital alliance as part their strategy to “establish and promote a long-term partnership,” the two automakers said in a joint press release on 28 August. Under the plan, Toyota pay JPY96 billion to acquire 4.94 % stake in Suzuki through acquiring its 24 million shares of common stock of Suzuki. Likewise, Suzuki will acquire around JPY48 billion worth of Toyota’s common share, equivalent to 0.2% of its total shares.