Suzuki and Daihatsu join Toyota EV joint venture
21/07/2021 07:42
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.
The move comes as Japanese automakers face growing
competition from tech giants and other rivals making electric
and driverless cars.
(Reporting by Eimi Yamamitsu; Writing by Ritsuko Ando; editing
by Louise Heavens)
((Ritsuko.Ando@reuters.com; +81 3 6441 1743;))