Toyota and Suzuki released a joint statement on Wednesday 12th Oct 2016, saying they are tying up for a possible partnership. Though, the two automakers didn’t announce much details about the possible partnership.
Toyota is the world’s biggest automaker, while Suzuki is a small car specialist. In the statement, the company CEOs mentioned that any partnership between the two would focus on safety and environmental technologies.
Osamu Suzuki, Chairman of Suzuki, stated:
“Toyota is the industry-leading, and the most reliable company, which is actively working on various advanced and future technologies. I am appreciative that Suzuki is able to start discussions with Toyota to explore ideas on a partnership. I first spoke about this possibility with Toyota’s Honorary Chairman Shoichiro Toyoda, and am very grateful that President Akio Toyoda has also showed an interest. We will proceed with discussions for the future of Suzuki.”
Akio Toyoda, the President of Toyota, said:
“As the environment, which surrounds the automobile industry has been changing drastically, we need to have the ability to respond to the changes in order to survive. In addition to the R&D, which each company is working on individually, it is very important now, to have partners, who share the same goal and passion. We would like to always keep our doors open for new partnership opportunities, which will contribute to the making of ever-better cars as well as to the development of the automotive industry.”
The possible partnership is as a result of Toyota lagging behind against its competitors in North America and Europe, while Suzuki on the other hand is struggling to survive in the highly competitive industry. Toyota sells around 10 million cars worldwide, while Suzuki sells about 2.8 million. There are 8 domestic automakers in Japan’s competitive auto industry. Suzuki is Japans 4th largest automaker.