Toyota and Mazda to co-develop electric vehicle tech
Toyota and Mazda are to jointly develop technologies for electric vehicles as well as connected cars under a new agreement worth 50 billion yen (380 million euros).
Building on an existing collaboration announced in 2015, the two carmakers have formed what they term as a business and capital alliance that will explore joint development of technologies for the basic structure of electric vehicles and also establish a joint venture to produce vehicles in the US.
The capital tie-up will see both carmakers take a share in each other for equivalent amounts, giving Toyota a 5.05% share in Mazda while Mazda will get a 0.25% shareholding.
The agreement will also see the carmakers jointly develop connected technology, with Toyota to also cooperate with Mazda in Toyota’s vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) technologies, and collaborate on safety technologies.
The joint venture plant also announced in the agreement will see an investment of around $1.6 billion and will have an annual production capacity of approximately 300,000 units, with plans to go live from 2021.
The plant is expected to produce new cross-over models for the North American market as well as the Toyota Corolla – which was expected to be built at Toyota’s new plant in Guanajuato, Mexico.
The partnership will also explore expanded product sharing, building on current collaborations including Mazda’s supply of a compact sedan to Toyota in North America and plans for Toyota to supply a compact commercial ‘two-box’ van to Mazda in Japan.
Toyota president Akio Toyoda said: “The greatest fruit of our partnership with Mazda is that we have found a new partner who truly loves cars. It has also sparked Toyota’s competitive spirit, increasing our sense of not wanting to be bested by Mazda. This is a partnership in which those who are passionate about cars will work together to make ever-better cars. It is also the realization of our desire to never let cars become commodities.”
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