2014 Toyota Venza Xle on 2040-cars

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Toyota buys Daihatsu for small-car development

Toyota is getting serious about small cars, but it's not going at it alone. Instead it's turning to its subsidiary Daihatsu, with which it will now share more resources and expertise. And in the process, it's acquiring the remaining stake in the smaller automaker. Daihatsu is a Japanese carmaker founded in its present form in 1951, but with roots that trace back as far as 1907. Toyota acquired a controlling interest of 51 percent in Daihatsu in 1988, bringing the company under its umbrella. But now it is raising its stake to 100 percent by a reciprocal share-swap agreement that will see Daihatsu's other shareholders take 0.27 shares in the larger company for each share in the smaller. As part of the new arrangement, the Daihatsu division will take the lead in developing new small cars, both for itself and for its parent company. Toyota in turn will also share key technologies with Daihatsu, and both will share each other's networks in emerging markets. The bottom line is that we can expect to see more small Toyotas and Scions developed and built by Daihatsu in the near future. The Daihatsu name may not be as familiar to Americans as some of Toyota's other brands. It briefly sold models like the Charade and Rocky in the United States under its own name in the late 1980s and early 90s. However US customers may be more familiar with those it built for the Scion brand, such as the Scion xB that was based on the Daihatsu Materia. While the realistic part of our brains force us to admit it's unlikely, the dreamer within us will hold out hope that the new arrangement could see a Scion version of the nimble little Daihatsu Kopen roadster make its way to our shores in the coming years. Toyota and Daihatsu to Strengthen Small Car Operations through Unified Global Strategy Toyota Motor Corporation (Toyota) and its subsidiary Daihatsu Motor Co., Ltd. (Daihatsu) have reached an agreement whereby Daihatsu will become a wholly-owned subsidiary of Toyota by way of a share exchange (expected to be completed in August 2016). The purpose of the agreement is to develop of ever-better cars by adopting a unified strategy for the small car segment, under which both companies will be free to focus on their core competencies. Ultimately, this will help Daihatsu and Toyota to attain their joint goal of achieving sustainable growth. Additionally, the aim of the share exchange is to enhance the value of both brands.

Electrify Expo is an all-electrified auto show like the old days

In late July, Autoblog swung by Washington, D.C. to check out the Electrify Expo. Now in its third year of nationwide shows, the Electrify Expo calls itself “North America's largest electric vehicle festival filled with over 1 million square feet of the world's top electric brands.” At every stop, visitors can find out about, crawl around in, drive and ride just about any personal conveyance that uses a battery for propulsion. Truth be told, when the show's PR team reached out to us with an invite, we only considered going after finding out about an area showcasing battery-electric tuner cars. EV tuning is undoubtedly going to be huge—eventually—which got us curious about these early days. We figured weÂ’d brave whatever the rest of the expo was to find out whatÂ’s the equivalent of nitrous for a Tesla. See, the EV event scene is still such that one never knows if theyÂ’ll show up to a mix of science and county fairs with a few cars on display just for truth in advertising, or if theyÂ’ll show up to a parking lot with 26 cars, 10 of them locked, 10 of them homemade, and 6 guarded by promotional hires desperate to tap all your identifying info a tablet before dispensing dubious and superficial information. Which is to say, we didnÂ’t expect much. And that makes us chuffed to report: Electrify Expo is great. We hadnÂ’t been strolling the lot outside the old RFK Stadium for five minutes before thinking, “This feels like an old-school auto show!” The exclamation to that point came from a group of four who cut me off to reach the C40 Recharge in the Volvo booth, one of them exclaiming as if he were the group expert and as if his friends were deaf, “THATÂ’S THE LEAST EXPENSIVE ONE! AND ITÂ’S BEEEE-YOUUUUU-TI-FULLLLLL!” I wasnÂ’t there to judge, I was there for the enthusiasm. Automakers had built small, simple, open booths, parked cars in them, then provided visitors the kind of interactions that will do the most good for anyone wondering about or interested in an EV. We only saw two cars that were off limits, the new Volkswagen ID.Buzz and the Ford F-100 Eluminator. Volvo wouldnÂ’t let me get an espresso from their chic little trailer, either, unless I visited the EX90 Experience trailer first. Otherwise, it was a free-for-all. Tesla had a large booth full of cars. BMW had two i7s open for everyone to sit in, next to the Ford booth with that Eluminator and an unlocked Mustang Mach-E GT and F-150 Lightning showing their cooler-chest-frunk trick.

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.