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Asia Today ISSN 1861-4604 Monday, July 16, 2018

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Toyota ties up with Mazda to make better cars

Toyota ties up with Mazda to make better cars

Share on Facebook May 14, 2015, Reporter : BigNewsNet, Reader : 578

PHOTO CREDIT: BNN news

TOKYO - Japanese automobile rivals Toyota Motor Corp and Mazda Motor Corp have entered into a long-term alliance which will leverage resources of both companies to complement and enhance each other's products and technologies.

The move is in keeping with worldwide trend among automakers where rivals are increasingly joining forces to cut costs by building scale and spreading the load of heavy investments in new technologies.

Announcing the partnership Wednesday, the automakers hoped it will result in more appealing cars that meet the diverse needs and tastes of customers all over the world.

Likening the tie-up to an "engagement", Toyota President Akio Toyoda told media, "It's not at all about scale, or something that can be seen or measured."

A joint committee will now be set up to evaluate how best to utilize each company's respective strengths. The committee will encourage broad and meaningful collaboration across a range of fields, including environmental and advanced safety technologies.

"Mazda has proven that it always thinks of what is coming next for vehicles and technology, while still managing to stay true to its basic carmaking roots. In this way, Mazda very much practices what Toyota holds dear: making ever-better cars," said Toyoda in a statement.

"I am delighted that our two companies can share the same vision and work together to make cars better. I can think of nothing more wonderful than showing the world?together?that the next 100 years of cars will be just as fun as the first."

The two companies currently have technology and manufacturing tie-ups in which Mazda licenses gasoline-electric hybrid technology from Toyota, and will soon start producing in Mexico a small sedan based on the Mazda2, using its Skyactiv engine, for Toyota's Scion youth brand.

This latest agreement will go beyond the traditional framework of one project collaboration, aiming instead to create a whole new set of values for cars through wide-ranging medium to long term collaboration.

"I hope that by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima, and all the communities we are involved in as well," stated Mazda President and CEO Masamichi Kogai.

The new collaboration is expected to cover a broad range of fields including environmental and advanced safety technologies. Both the companies were silent on a possible financial alliance.

Nissan Motor Co, Japan's second-biggest automaker behind Toyota, also has an alliance with France's Renault SA, which holds 43.4 percent stake in Nissan.> BNN

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