Suzuki and Daihatsu join Toyota EV joint venture


Reuters | Tokyo | Updated: 21-07-2021 12:46 IST | Created: 21-07-2021 12:46 IST
Suzuki and Daihatsu join Toyota EV joint venture
  • Country:
  • Japan

Suzuki Motor Corp and Daihatsu are joining a commercial electric vehicle coalition led by Toyota Motor Corp, the carmakers announced on Wednesday, helping the Japanese alliance expand its focus from trucks to smaller cars. The two automakers will each acquire a 10% stake in the joint venture, on par with Isuzu Motors and Hino Motors , while Toyota will hold a 60% stake, they said.

The move comes as Japanese automakers face growing competition from tech giants and other rivals making electric and driverless cars.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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