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Toyota buys 4.94% stake in Suzuki

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Japanese carmakers Toyota and Suzuki had announced a joint product collaboration earlier this year. The two companies have now announced a move to promote long-term partnership for future collaborations in fields like autonomous driving amongst others.

Toyota will acquire 24,000,000 shares of Suzuki, a 4.94% stake, at a price of 96 billion Japanese Yen. In turn, Suzuki plans to acquire Toyota shares worth 48 billion Japanese Yen. These transactions will be implemented only after the appropriate regulatory permissions.

As part of the alliance, the two companies will take advantage of Toyota's electric technology, Suzuki's expertise in compact vehicles along with collaborations in production, promotion of mutual supply of products and joint product developments. 

 
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