Toyota and
Subaru have agreed to a
new business alliance "with the aim of
further developing and strengthening their long-term partnership," starting with the
"joint development of the next-generation Toyota 86 and Subaru BRZ."
In addition, both companies will also
jointly-develop all-wheel-drive models "that offer the ultimate sensation in all-wheel driving" and
collaborate on the development of connected vehicles and in the
field of autonomous driving.
For the new alliance, the two companies have agreed that Toyota will
increase its equity stake in Subaru to 20 percent, making the latter an
affiliated company of the former, while Subaru will acquire shares in Toyota "
equivalent to the monetary amount (up to JPY80 billion) necessary for Toyota to acquire Subaru shares as described."
"During this once-in-a-century period of profound transformation, even if CASE changes how cars will be, driving enjoyment will remain an inherent part of automobiles and is something that I think we must continue to strongly preserve," said
Toyota President Akio Toyoda following the signing of the agreement. "I, myself, am a rallyist, and, through my experience of training hard in an Impreza, I have felt in my veins the wonders of Subaru's AWD technologies. Meanwhile, we at Toyota have been going all-out to hone our all-wheel-drive technologies by participating in the World Rally Championship, among other activities. Our companies, both of which have long pursued driving enjoyment, now want to pursue the possibilities of making ever-better cars suitable for the CASE era by bringing together our strengths and by further deepening our relationship."
The
CASE era being described by Toyoda is an abbreviation for
'connected, autonomous/automated, shared, and electric.'
"Between our company and Toyota is an alliance that already has a history of 14 years," added
Subaru President Tomomi Nakamura said. "During this time, we have deepened our bonds in various fields such as product development, production, and sales, including through personnel exchanges. By taking our relationship one step further and mutually honing our technologies, we will strengthen our ability to respond to CASE and other demands, and will accelerate our shared aspirations for making ever-better cars. This new step in our alliance with Toyota will lead to enhancing 'Enjoyment and Peace of Mind' that Subaru is committed to deliver, and I am confident that our customers will love what we offer through these efforts."
