Suzuki and Daihatsu join Toyota electric vehicle venture (updated)
21/07/2021 09:28
(Adds comments, background)
TOKYO, July 21 (Reuters) - Suzuki Motor Corp 7269.T and
Daihatsu are joining a commercial electric vehicle coalition led
by Toyota Motor Corp 7203.T , the carmakers announced on
Wednesday, helping the Japanese alliance expand its focus from
trucks to smaller cars.
The two automakers will each acquire a 10% stake in the
joint venture, on par with Isuzu Motors 7202.T and Hino Motors
7205.T , while Toyota will hold a 60% stake, they said.
"With Suzuki and Daihatsu joining the project and working
together, we'll be able to expand our circle of cooperation to
not only cover commercial vehicles but also mini vehicles," said
Toyota President Akio Toyoda.
"With this expansion, I believe that we'll be able to take
one step closer to a better mobility society," Toyoda said.
The move comes as Japanese automakers face growing
competition from tech giants and other rivals making electric
and driverless cars.
Toyota, Isuzu and Hino launched the Commercial Japan
Partnership Technologies Corporation in April to bolster their
competitive edge in connected, commercial vehicles. urn:newsml:reuters.com:*:nL1N2LM06K
Daihatsu's president Soichiro Okudaira said joining the pact
and introducing connected, mini-commercial vehicles would allow
data sharing, a major benefit for companies to provide better
services to customers and improve logistics efficiency.
(Reporting by Eimi Yamamitsu; Writing by Ritsuko Ando; Editing
by Louise Heavens)
((Ritsuko.Ando@reuters.com; +81 3 6441 1743;))