Toyota and Subaru Agree on New Business and Capital Alliance
27 September 2019 - 5:31PM
JCN Newswire (English)
Toyota Motor Corporation and Subaru Corporation agreed today on
a new business and capital alliance with the aim of further
developing and strengthening their long-term partnership.
Ever since concluding an agreement on business collaboration in
2005, partnership between Toyota and Subaru has included contract
production by Subaru of Toyota vehicles and supply by Toyota of
vehicles to Subaru, as well as joint development of the
rear-wheel-drive Toyota 86 and Subaru BRZ sports car models.
Also, with vast changes enveloping the automotive industry, which
is being called on to respond to the new domains of CASE
(connected, autonomous/automated, shared, and electric), Toyota and
Subaru disclosed in June this year that they have agreed to jointly
develop a platform dedicated to battery electric vehicles (BEVs)
and to jointly develop a BEV model, both of which will employ
Subaru's AWD technologies and Toyota's vehicle electrification
technologies.
In this once-in-a-century period of profound transformation, by
strengthening their bonds and aligning their capabilities, Toyota
and Subaru aim to pursue driving enjoyment in the CASE era and to
make ever-better cars beyond what either company has been able to
achieve thus far. Furthermore, to deepen their relationship and to
strengthen their ties toward advancing to the next stage while
respecting the identity of each other's brand, the two companies
have agreed that Toyota will increase its equity stake in Subaru
and that Subaru will acquire shares in Toyota.
Details of business activities in the new alliance
1. In pursuit of making ever-better cars beyond that achieved thus
far by Toyota and Subaru
- Bringing together both companies' strengths to jointly develop
all-wheel-drive models that offer the ultimate sensation in
all-wheel driving
- Joint development of the next-generation Toyota 86 and Subaru
BRZ
2. Expansion of the scope of partnership to survive this
once-in-a-century period of profound transformation
- Following the Crosstrek Hybrid*, expanding use of the Toyota
Hybrid System in other Subaru models
- Cooperation in the domain of connected vehicles and technical
collaboration in the field of autonomous driving
Commenting on today's agreement, Toyota President Akio Toyoda said:
"During this once-in-a-century period of profound transformation,
even if CASE changes how cars will be, driving enjoyment will
remain an inherent part of automobiles and is something that I
think we must continue to strongly preserve. I, myself, am a
rallyist, and, through my experience of training hard in an
Impreza, I have felt in my veins the wonders of Subaru's AWD
technologies. Meanwhile, we at Toyota have been going all out to
hone our all-wheel-drive technologies by participating in the World
Rally Championship, among other activities. Our companies, both of
which have long pursued driving enjoyment, now want to pursue the
possibilities of making ever-better cars suitable for the CASE era
by bringing together our strengths and by further deepening our
relationship."
Subaru President Tomomi Nakamura said: "Between our company and
Toyota is an alliance that already has a history of 14 years.
During this time, we have deepened our bonds in various fields such
as product development, production, and sales, including through
personnel exchanges. By taking our relationship one step further
and mutually honing our technologies, we will strengthen our
ability to respond to CASE and other demands, and will accelerate
our shared aspirations for making ever-better cars. This new step
in our alliance with Toyota will lead to enhancing 'Enjoyment and
Peace of Mind' that Subaru is committed to deliver; and I am
confident that our customers will love what we offer through these
efforts."
*Currently available only in the North American market. (Crosstrek
is the North American model name of Subaru XV.)
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that
introduced the Prius hybrid-electric car in 1997 and the first
mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in
Toyota City, Japan, Toyota has been making cars since 1937. Today,
Toyota proudly employs 370,000 employees in communities around the
world. Together, they build around 10 million vehicles per year in
29 countries, from mainstream cars and premium vehicles to
mini-vehicles and commercial trucks, and sell them in more than 170
countries under the brands Toyota, Lexus, Daihatsu and Hino. For
more information, please visit www.toyota-global.com.
Source: Toyota Motor Corporation
Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926
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