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Toyota to boost its Subaru stake to more than 20%

TOKYO — Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, a deal that would also see the smaller firm invest in Japan's top automaker, two people with direct knowledge of the matter said on Friday. The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public. The investment would come a month after Toyota and another smaller Japanese automaker, Suzuki, said they would take small equity stakes in each other. Such tie-ups highlight how automakers are scrambling to chase scale, manage costs and boost development. Traditional car makers, especially smaller ones like Subaru and Suzuki, are struggling to meet the fast pace of change in an industry being transformed by the rise of electric vehicles, ride hailing and autonomous driving. Toyota's investment is likely to cost more than 70 billion yen ($650 million) based on Subaru's stock market value, said the Nikkei business daily, which first reported the news. Subaru is likely to reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of the people told Reuters. The companies have long worked together on projects such as the Toyota 86 and Subaru BRZ twins. At one time, Subaru built Toyota Camrys in its Indiana plant. Representatives for both Toyota and Subaru said the news was not something that had been announced by their companies. "The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a 'mega Toyota.' This is the first step towards that," said Takeshi Miyao, managing director of Carnorama, a consultancy. "It's all about building scale." Subaru is particularly strong in sport-utility vehicles (SUV) and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs. Car markers around the world have been joining forces to slash development and manufacturing costs of new technology. Ford Motor Co and Volkswagen AG have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Toyota seems to be particularly keen to build scale now by investing in smaller, domestic automakers, rather than forging cross-border tie-ups like some of its rivals.

Subaru WRX STI might finally get power bump for 2019

Since it arrived in the US, the Subaru WRX STI has hovered around 300 horsepower. That was world-class in the early 2000s, but the 2018 model's 2.5-liter turbocharged boxer-four 305 horsepower output is no longer something to write home about. This week, The Truth About Cars reported that the hottest Impreza might get another slight bump. A NHTSA document lists the 2019 model at all of 310 horsepower, the same output as the limited-run WRX STI Type RA. If you thought the $50,000 Type RA wasn't worth the extra cash, at least the standard model will get the 5 horsepower bump now, too. That's more than the 292 horsepower Volkswagen Golf R or the 306 horsepower Honda Civic Type R, but it's way off the 350 horsepower output of the Ford Focus RS. According to the NHTSA filing, there's no power increase mentioned for the non-STI Subaru WRX. We're hoping the next generation WRX STI will finally shed the old EJ-series boxer-four in favor of a more modern and more powerful engine. The standard Impreza was updated in 2016, and the performance variants usually follow a few years later. Cross your fingers that a new version of the WRX wagon comes along, too. Related Video: Related Gallery 2018 Subaru WRX STI Type RA: First Drive View 51 Photos News Source: The Truth About Cars Subaru Performance Sedan subaru sti

Drive-up bank robbery perpetrated with Cayenne and WRX

Thieves carried out what appears to be a movie-script-perfect robbery of a bank in Sydney, Australia early on Friday morning, using two stolen high-performance vehicles in the process.
At around 11:15 AM local time, in near mid-day light, reports say that two men in masks smashed into the side of a Westpac bank in a confirmed-stolen black Porsche Cayenne. The perpetrators were armed with sledgehammers according to witness reports, and took only about five minutes to take what they were after inside of the bank.
The rapid getaway was executed in a Subaru WRX, also confirmed as a stolen vehicle, while witnesses snapped camera phone images of the illicit goings on. One Twitter user posted a few of the images to his social media feed; you can take a look at them in our small gallery below. Follow on down for the full video report, from The Sydney Morning Herald.