First details have emerged surrounding Toyota and Mazda’s agreement, which the automakers say will build a “mutually beneficial long term partnership. “

A joint committee will now be set up to evaluate how best to utilise each company’s respective strengths, with the grouping evaluating collaboration across fields including environmental and safety technologies.

“As evidenced by their Skyactiv Technologies and Kodo-Soul of Motion design, Mazda has proven it thinks of what is coming next for vehicles and technology, while still managing to stay true to its basic car-making roots,” said Toyota president, Akio Toyoda.

“In this way, Mazda very much practices what Toyota holds dear: making ever-better cars. I am delighted our two companies can share the same vision and work together to make cars better.”

For his part, Mazda president and CEO, Masamichi Kogai noted: “I hope by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima and all the communities we are involved in as well.”

Previous collaboration between the two has included the licencing of Toyota’s hybrid technologies to Mazda and the production of compact cars for Toyota at Mazda’s plant in Mexico.

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Further details surrounding the agreement are expected later.