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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 builds its 500,000th Corolla in Mississippi

Toyota assembles the Corolla at plants around the world: from Brazil and South Africa to Turkey, Pakistan, China, Taiwan and Thailand. But the one we get here is built in Mississippi, and that location has just finished its 500,000th Corolla. The plant in Blue Springs, MS, is just one of a half-dozen assembly plants Toyota operates in the United States, but reached the half-million mark faster than any of the others. It began production late in 2011 and took over Corolla assembly from the NUMMI plant in California previously operated via joint venture with General Motors and now occupied by Tesla. Last year, the 2,000 workers at Toyota Motor Manufacturing Mississippi built 180,000 Corollas, contributing to the 10 million units of the model Toyota has sold in America since it was introduced here in 1968 and the 21 million vehicles Toyota has made in America over the years. 500,000th Corolla Speeds Off the Line at Toyota Mississippi Blue Springs plant celebrates milestone achieved at record pace BLUE SPRINGS, MISS. (Feb. 12, 2015) – Toyota Mississippi is celebrating the 500,000th Corolla coming off the line at the Blue Springs, Miss., production facility. The production accomplishment was achieved faster than any other Toyota plant in the U.S. – a testament to the 2,000 hardworking team members who have answered increasing consumer demand since the plant opened in 2011. "The 500,000th Corolla vehicle is a milestone we're excited to be celebrating," said Fred Volf, Toyota Mississippi, vice president of manufacturing. "We are proud to produce the Corolla, and it wouldn't have been accomplished without the 2,000 dedicated team members who support this operation." The milestone is one more to add to the long list of achievements for Toyota Mississippi and the Corolla. Toyota has sold more than 10 million Corollas in the U.S. and 40 million worldwide since the vehicle debuted here in 1968. The success of Corolla contributes to Toyota's accomplished domestic manufacturing footprint and represents Toyota's commitment to producing vehicles where they are sold. Since 1986, more than 21 million Toyota vehicles have rolled off the line in the U.S. and including dealers and suppliers, Toyota has generated 365,000 U.S. jobs. Toyota's local presence is felt by those in Northeast Mississippi through substantial economic investment, employment, philanthropic efforts and environmental responsibility.

Stellantis and Toyota expand partnership with large commercial van

Stellantis said on Monday it would expand its partnership with Toyota Motor Europe (TME) with a new large commercial van, including an electric version. Stellantis will supply TME, a unit of Japan's Toyota Motor Corp, with the new vehicle for sale in Europe under the Toyota brand, it said. The van will be produced at Stellantis plants in Gliwice, Poland, and Atessa, Italy. "Planned for mid-2024, the new large-size commercial van marks TME's first entry into the large-size commercial vehicle segment," Stellantis added in a statement. The deal widens the partnership between the two companies and allows a better optimization of Stellantis' Atessa plant, which currently makes large vans sold under the Peugeot, Citroen and Fiat marques. "It represents an important addition and completes our light commercial line-up for Toyota's European customers," Stellantis said. Paris-listed shares in Stellantis were up 1.6% by 0941 GMT. Carmakers have increasingly been agreeing cross-manufacturing deals to reduce costs in vans, which due to a boom in parcel delivery are seeing large demand — and where electric vehicle versions are also seeing rising sales to carry out "last-mile" deliveries in city centers. Green Fiat Toyota Citroen Peugeot Minivan/Van Commercial Vehicles Electric