Toyota Motor Corp President Akio Toyoda (L) and Suzuki Motor Chairman and CEO Osamu Suzuki attend their joint news conference in Tokyo, Japan, October 12, 2016. Pic: Reuters/Toru Hanai

Toyota and Suzuki to cooperate on developing green tech and safety tech

AFTER initial discussions in October last year, Japanese carmakers Toyota and Suzuki have signed a memorandum of understanding (MoU) to develop ecological and safety technology – areas which they see as a rapidly growing in the industry.

The companies announced the plans on Monday following approval by respective company boards.

As part of the MoU the companies will also collaborate on information technology as well as mutual supply of products and components.

“The words of Chairman Osamu Suzuki at our joint press conference in October last year – ‘If you are running a company, you have to continue to take challenges. You are running your company for the benefit of society and this remains unchanged.’ – resonated deeply with me,” said Akio Toyoda, Toyota President, at the signing.

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“This, I felt, was indeed the spirit of ‘let’s do it’,” he added, “Both of our companies, which trace their roots to Enshu [the western part of Japan’s Shizuoka prefecture], intend to apply the spirit of “let’s do it” to the fullest, and we want to cooperate towards enabling all people throughout the world to truly experience the joy of mobility, and to achieving a society of future mobility full of smiles.”

The next step in the agreement is to decide on specific cooperation projects.

Toyota Motor Corp is the maker of the Camry sedan, Prius hybrid and Lexus luxury models. Suzuki Motor Corp specializes in tiny cars but does not have a hybrid, electric car or fuel cell vehicle in its lineup.

Both companies hope the partnership can help them share the cost of making green and futuristic technologies while also maintaining healthy competition.