Japan’s Toyota Motor Corp and Suzuki Motor Corp are nearing a partnership agreement to develop technology, including self-driving, the Nikkei business daily reported on Saturday. The two Japanese automakers could announce a deal as soon as Monday, the Nikkei reported.
The partnership will also cover areas such as development and procurement, which includes applications for information technology and sharing sources for parts in Japan and abroad, the Nikkei said, reports Reuters.
Toyota CEO Akio Toyoda, left, and Suzuki Chairman Osamu Suzuki last October announced the companies’ plans to explore business tie-ups
Suzuki and Toyota’s unit Daihatsu Motor will continue to sell automobiles under their separate brands to avoid risks related to antitrust laws. The companies will collaborate in ways that steer clear of antitrust risk, the business daily reported.
Toyota and Suzuki said in October that they plan to explore a possible partnership, citing technological challenges and the need to keep up with consolidation in the global auto industry. Suzuki and Toyota did not immediately respond to requests for comment outside regular business hours.
