Toyota's President Akio Toyoda & Osamu Suzuki, Chairman of Suzuki Motor Corporation

Suzuki Motor Corporation (Suzuki) and Toyota Motor Corporation (Toyota) announced that both companies have agreed to start exploring ideas that are directed towards a business partnership.

The environment surrounding the automotive industry has been changing drastically and rapidly in an unprecedented fashion. As such, the industry is required to work not only on conventional automobile R&D, but also on R&D for advanced and future technologies in the fields including environment, safety, and IT.

In addition to the R&D that is conducted by individual companies, it is increasingly important to work together with other companies on areas such as infrastructure development, as well as the establishment of new industrial standards.

With its primary focus on minivehicles, Suzuki has been consistently refining its technologies so as to develop vehicles with high price competitiveness. However, in the face of the advanced and future technology R&D field, Suzuki is increasingly feeling a sense of uncertainty.

On the other hand, although Toyota has been working on R&D in the environment, safety, and information technology fields, Toyota is conscious of the fact that it may be behind competitors in North America and Europe when it comes to the establishment of standardizations and partnership with other companies.

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