We Finance 09 Highlander Sport V6 4wd Clean Carfax Cloth Bucket Seats Backup Cam on 2040-cars

Auto blog

Toyota and Suzuki partner up on autonomy with capital alliance

TOKYO — Toyota and Suzuki will take small equity stakes in each other, the Japanese car makers said on Wednesday, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry. The tie-up is the latest example of automakers chasing scale to manage costs and boost development. Automakers — especially smaller ones like Suzuki — are struggling to meet the breakneck growth of an industry transformed by the rise of electric vehicles (EVs), ride-hailing and autonomous driving. Toyota will pay around 96 billion yen ($908 million) for a 4.94% stake in Suzuki, while Suzuki will acquire in the market around 48 billion yen ($454 million) worth of shares in Toyota. That is equivalent to 0.2% of Toyota's shares as of Wednesday's closing price, before the announcement. The companies said in a joint statement they intended to overcome challenges facing the industry by "building and deepening cooperative relationships in new fields while continuing to be competitors". They said they would strengthen technologies and products in which each of them specialize in. The firms had said in 2016 they were exploring a partnership, citing technological challenges and the need to keep up with industry consolidation. Earlier this year they said they would produce EVs and compact cars for each other. Automakers around the globe have been joining forces to slash development and manufacturing costs of new technology. Ford and Volkswagen have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Shares of Toyota and Suzuki closed little changed before the announcement. TOYOTA'S ORBIT The deal brings Suzuki firmly into Toyota' orbit, alongside Daihatsu, Hino Motors, Subaru, Mazda and Yamaha. Rival Nissan has an alliance with France's Renault, although that has been shaken following the ouster of former Chairman Carlos Ghosn, and with Mitsubishi Motors. Honda has a tie-up with General Motors. Toyota has been looking to expand scale in next-generation technology and said this year it would offer free access to patents for EV motors and power control units. It believes that move would help it cut by as much as half the outlays for expanded electric and hybrid vehicle components in the United States, China and Japan. Supplying rivals would greatly expand the scale of production for hardware.

Toyota settles first wrongful death suit related to unintended acceleration

Toyota's sales seem to have rebounded from the unintended acceleration issues from 2009 and 2010, but the automaker is far from done dealing with this situation. Following a settlement worth up to $1.4 billion for economic loss to affected vehicle owners, Toyota has settled rather than going to trial in a wrongful death lawsuit stemming from an accident in Utah in 2010 that left two passengers dead. This isn't the first case in which Toyota has settled, but it was the first among a consolidated group of cases being held in Santa Ana, CA.
According to The Detroit News, this case was scheduled to take place next month, and it was for a November 2010 incident in which Paul Van Alfen and Charlene James Lloyd were killed in a Camry when, based on findings by the Utah Highway Patrol, the accelerator got stuck causing the car to speed out of control and hit a wall; the terms of the settlement were not announced.
The article says that while Toyota will settle on some cases, it doesn't plan on settling on all of them as it still wants to be able to "defend [its] product at trial." This will probably be the case in suits claiming that software for the drive-by-wire accelerator was the cause of an accident in a Toyota or Lexus vehicle. The question of whether or not the electronic accelerator played any role in this problem has been a hot-button topic since the beginning. Toyota has issued recalls in the past to attempt to prevent unintended acceleration caused by trapped floor mats and faulty accelerator pedals, but it also says driver error was to blame in some instances.

Toyota pays tribute to Clarkson as he asks press, fans to leave producer alone

Say what you will about Toyota, but the Japanese brand was generally treated pretty well by former Top Gear host Jeremy Clarkson, despite the fact that the show routinely destroyed the brand's vehicles in each encounter. Whether it was a Hilux of some vintage, his attempts at annihilating a Kiwi Corolla (technically an Auris) or his honest attempts at reviews, the now-unemployed host has enjoyed quite a history with Toyota. It's hardly surprising, then, that the behemoth automaker's UK arm has put together a Clarkson montage, following the host's firing. There are some classic clips, featuring the vehicles mentioned above, as well as some amusing moments featuring the host himself. While the motoring world is still reacting to Clarkson's firing yesterday, the host has already broken his silence on the matter after getting intercepted by the media while cycling through London. "All I would like to say is, I wish people would leave Ois alone, because none of this is his fault," Clarkson told the media while deflecting questions about his potential arrest, the BBC reports. "Ois," of course, refers to Oisin Tymon, the Top Gear producer Clarkson physically and verbally assaulted following a full day of filming. Clarkson is a polarizing character, to be sure, but it takes a big person to make that kind of statement following his firing from a show he was so integral to. Check out Toyota's video up top, and then click over to the BBC to see Clarkson's comments to the media.