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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.

Toyota goofs again in latest Mirai fuel cell ad

In the "gotcha" culture engendered by social media and viral campaigns, it looks like Toyota got, well, got. The Japanese automaker is starting a campaign for its Mirai fuel-cell vehicle, and included a line about the fact that the car "breathes in air." Of course, all light-duty vehicles do that, as Jalopnik's Opposite Lock happily pointed out. Jalopnik added that even electric vehicles have an air intake for their heat exchangers. Oops. It looks like Toyota doesn't think this message is wrong, since the image is still up on the company's Google+ page. The Mirai can still lay claim to something that may impress the layman in that it emits only water vapor from its tailpipe. It's a pitch Toyota started making to Americans last November when the company said it would start Mirai sales this year in California. Toyota's charging an MSRP of $57,500 for those looking to buy the car outright or a three-year lease rate of $499 a month for 36 months (with $3,649 due at signing) for those to want to lease the car. Toyota also said in January that it would ramp up Mirai production to about 2,000 vehicles in 2016 from about 700 this year, as it expands distribution into Europe and the US. In the US, refueling the hydrogen will be free. Just like the chemistry lesson from Opposite Lock. Related Videos:

Toyota's production fuel cell car to cost between $50-100k

While the cost of building a hydrogen fuel cell vehicle continues to go down over time, reports over the last few years have steadily maintained that the first Toyota hydrogen-powered vehicles for customers should ring up for around $50,000. Company officials cited this figure way back in 2010, and have reiterated it in subsequent years.
So, while a recent Automotive News report about the cost of Toyota's 2015 Hydrogen car doesn't offer up any new figures, it does offer an interesting pricing wrinkle. According to the report, the "cost factor" for the hydrogen vehicles will be in the $50k ballpark, meaning the retail price could be anywhere from there, up to as much as around $100,000.