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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 ups Prius incentives to $3,000 for some Californians

So, Southern Californians, here's a little math question for you. If Toyota is offering about $3,000 in incentives on the Prius in San Francisco and just $2,500 in perks in Los Angeles, is it worth it to take the trip up? Yes, but barely. Looking to goose sales in by far its largest US market, Toyota is continuing many of the incentives it started in April to reverse the trend of falling year-over-year Prius sales, according to Green Car Reports. Specifically, Toyota is offering discounts worth about $3,000 in San Francisco, though many of those incentives expire May 26, Green Car Reports says, citing Cars Direct. Down in LA, those incentives are worth about $2,500, though they do extend until June 1. While US Prius sales fell last year, they did rise two percent in California. Through April, the four Prius variants combined for sales of 15,235 units, down 15 percent from a year earlier. And for those looking to do a little comparison shopping, a one-way flight from Los Angeles to San Francisco is running about $200, while that drive down will cost about $30 in gas (it is a Prius, after all). Factoring in the rides to and from the airports, though, we'll call it a wash.

Toyota Prius owners targeted by tire-slashing VA vandal

Toyota Prius owners aren't bad folks. With a few exceptions, they're just normal people that appreciate the comfortable, high-mileage hybrid. Someone in Arlington, Virginia doesn't see it that way, though, as 14 examples (and one Smart) had at least one tire slashed last Sunday night.
The serial tire-slasher didn't any items from the vehicles, but he or she has left owners with substantial bills and sour dispositions. According to a report from ABC affiliate WJLA, some citizens are considering the matter a hate crime.
Despite the targeting of Toyota hybrids and the acquisition of one fingerprint, police have been unable to make any arrests, as the slasher has targeted vehicles across the county. Take a look at the local news report from WJLA below.