• Two sides conclude memorandum to explore cooperation in areas including environment and safety, IT and 'mutual supply of products and components'
Seeing eye to eye. Akio Toyoda 
and Osamu Suzuki

Seeing eye to eye. Akio Toyoda and Osamu Suzuki

Toyota and Suzuki say they have concluded a memorandum on beginning 'concrete examinations for business partnership'. The partnership is aimed at saving cost in R&D and sharing ideas on addressing the big challenges facing the auto industry globally.

In October of last year, the two companies said they were considering collaborating on research and development as the automotive industry 'environment' had been 'changing drastically and rapidly in an unprecedented fashion' requiring the usual R&D work on conventional vehicles while adding advanced and future technologies encompassing environment, safety, and IT.

Since then, the companies say they have shared with each other their challenges and have been discussing areas of collaboration.

The companies agreed today to begin concrete examinations toward the realization of business partnership in areas including environmental technologies, safety technologies, information technologies, and mutual supply of products and components.

'Implementation framework' established

The companies have agreed to work toward the early realisation of business partnership. To that end, the two companies are to immediately establish an 'implementation framework'.

Toyota President Akio Toyoda said: "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 on challenges. You are running your company for the benefit of society, and this remains unchanged.'?deeply resonated within me. This, I felt, was indeed the spirit of (the local expression) "Let's do it". Both of our companies, which trace their roots to Enshu (the western part of Shizuoka Prefecture), intend to apply to the fullest the spirit of "Let's do it", and we want to cooperate toward enabling all people throughout the world to truly experience the joy of mobility and to achieving a society of future mobility full of smiles. I am truly thankful for having been given this opportunity to work together with a company such as Suzuki, which overflows with the spirit of challenge. Toyota looks forward to learning much."

Suzuki Chairman Osamu Suzuki said: "Under the leadership of President Akio Toyoda, Toyota was enthusiastic throughout our discussions regarding partnership, even though such was sought by Suzuki, which was concerned about the development of advanced technologies. I want to express my heartfelt appreciation. In response to Toyota's display of enthusiasm, Suzuki also intensively engaged in the discussions, and we now stand at the starting point for building a concrete cooperative relationship. I want to give this effort our fullest and to aim at producing results that will lead Toyota to conclude that it was the right thing for Toyota to have decided to work together with Suzuki."

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