Toyota, Suzuki forge capital alliance

Toyota said on Wednesday it will take a nearly five-percent stake in small-car specialist Suzuki Motor, the latest tie-up in the rapidly changing global auto industry. Toyota, maker of the Prius and Camry models, will pay some 96 billion yen ($907 million) for 4.94 percent of Suzuki, which in turn will buy Toyota shares worth 48 billion yen through the market. The announcement comes after Toyota and Suzuki in 2017 signed a memorandum of understanding to discuss an operational tie-up. The announcement comes as the global auto business undergoes dynamic changes, brought on by tougher environmental regulations, and new market entrants such as tech firms developing driverless vehicles.

Toyota, Suzuki forge capital alliance

Toyota said on Wednesday it will take a nearly five-percent stake in small-car specialist Suzuki Motor, the latest tie-up in the rapidly changing global auto industry. Toyota, maker of the Prius and Camry models, will pay some 96 billion yen ($907 million) for 4.94 percent of Suzuki, which in turn will buy Toyota shares worth 48 billion yen through the market. The announcement comes after Toyota and Suzuki in 2017 signed a memorandum of understanding to discuss an operational tie-up. The announcement comes as the global auto business undergoes dynamic changes, brought on by tougher environmental regulations, and new market entrants such as tech firms developing driverless vehicles.