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Jun 19, 2022
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Toyota Motor, Suzuki Motor deny report of partnership talks

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Toyota Motor, Suzuki Motor deny report of partnership talks: The Nikkei ness daily said on Wednesday in a front-page report that Suzuki, Japan’s fourth-biggest automaker, and international top-seller Toyota were discussing a partnership that was potential from various angles including a cross-shareholding deal.

“It isn’t accurate that we’ve entered discussions over a tie-up with Toyota,” Suzuki said. The same statement was issued by Toyota.

The Nikkei additionally reported that Toyota is about to turn the main national rival of Suzuki Daihatsu Motor Co right into a fully owned subsidiary company via an equity swap. Toyota possesses 51.2 percent of Daihatsu.

Daihatsu and Toyota said in separate statements the group continues to be considering various alternatives, including turning Daihatsu into a fully owned component, but that nothing is determined. Commerce in Daihatsu shares was set to restart in the morning.

Suzuki and Toyota are planning to make the most of every other’s know-how and capitalize on the demand for compact cars in India along with other emerging markets, the Nikkei said without citing sources.

However, the automaker has been under pressure to seek out a larger partner to develop next-generation fuel-saving technology as emissions and fuel economy regulations tighten.

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