Toyota and Suzuki are both Japanese automakers known for being rivals in the market but the two companies are now discussing about a partnership that could cover wide range of strategies. Analysts are happy with the idea of the new partnership.
Executives at the respective auto company are on the process of partnering in various areas including environmental and safety technologies, IT as well as shared procurement.
Akio Toyoda, the president of Toyota, published a news release saying that he is happy with the chance to be able to work as one with another auto company like Suzuki because the partnership is presenting a lot of spirit that embodies challenge.
There are still no details about the major elements of the partnership but there are already plans of concrete examinations of the partnership after a statement from the two companies were published last October regarding a consideration of a formal tie-up.
According to a news release from Osamu Suzuki, the chairman of Suzuki, all throughout the discussion Toyota has shown much enthusiasm about their partnership despite the fact that it was Suzuki who was looking for the tie-up to be made possible. The company is quite concerned about the fact that advanced technology is developing in quite an astonishing pace.
Though there are no formal details coming from the manufacturers’ side yet, it has been said that they are also excited about the partnership because it would mean that the two companies will now have a mutual supply when it comes to their products and components.
Analysts are having positive outlook at the talks of partnership between the two automakers especially with idea of Suzuki being able to access the leading technology used by Toyota and accessing its ability when it comes to research and development.
Experts have voiced out that it is the area where Suzuki is struggling the most when it comes to keeping pace with competitors for the last few years. Toyota, on the other hand, will be able to benefit from the market expertise of and share of Suzuki in various regions which includes a Suzuki dealer in India now. It is not surprising because the sales from the country are almost half of the entire global sales of Suzuki.