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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.

2015 24 Hours of Le Mans live race report

Check back regularly for more race updates every few hours. No, you don't need to stay up for the entire 24 Hours of Le Mans, but if you want to catch any of the action, Autoblog friend Reilly Brennan has a handy guide. And to keep you up to speed on the latest race events, we'll be posting live from Le Mans with regular race reports.Hour 1: Five laps in, Audi breaks up the three Porsches at the front, with the #19 919 Hybrid, driven by Nico Hulkenburg, passed by all three R18s. Hulkenburg eventually took back fifth position only to fall back again after the first pit stop. Meanwhile, clutch trouble kept the #23 Nissan GTR-LM in the pits until 15 minutes into the race. The other two Nissans were forced to start at the back of the grid after failing to the meet the 110 percent qualifying speed regulation. At the end of the first hour, just 7.5 seconds separated the first six cars. Then the factory team #92 Porsche GTE car caught fire, with the the #13 Rebellion P1 car taking frontal damage in the ensuing carnage. With the safety car out, the field is once again bunched up.Hour 2: The slugfest between Audi and Porsche continues, with neither side backing off. Halfway through the second hour the #7 R18 passes both leading Porsches for the top position. After another round of pits stops Porsche regains the lead until lap 30, when the Audi overtake once again and quickly pulls out a three-second gap. Nico Hulkenburg passes the other two Audis to join his Porsche teammates. At the beginning of the third hour it's Audi #7, Porsche #17, #18, and #19, followed by Audi #8 and #9. 33 seconds separates this group, with Toyota a minute back from the front car.Hour 3: On track the action refuses to stop. Although it's early, Audi is looking strong with the overall lead in the #7. What's more is that the Audis run four stints per set of tires, while the Porsche cars have to change rubber every third stop. But after a quick refueling, the lead R18 gets a tire puncture and comes back in 3 laps later, allowing Porsche to take over the top two spots. Then as the hour closes out a yellow flag causes traffic to bunch up and the #8 Audi gets stuck with nowhere to slow down. Driver Loic Duval dives for the side of the road but hits the guard rail and careens across the track, damaging the front and rear bodywork. The rest of the car is still intact, though, and once in the pits Audi replaces the entire front and rear of that in only three minutes.

Toyota previews next Lexus RX with Tokyo-bound JDM Harrier

The Lexus RX shares much with the Toyota Highlander, but its more direct counterpart is the Toyota Harrrier. Never heard of it? That's because Toyota only sells it at home in Japan, and now it's revealed a new one. So if the Harrier is essentially a Toyota-badged version of the RX, then what's the big deal, you ask? The big deal is that the new Harrier which leaked in July, set to debut at the Tokyo Motor Show next week and which you see here isn't quite the same as the Lexus, and those differences could (and in most cases likely will) make their way over to the RX as well.
For starters, the styling is different. Granted that the Lexus version will almost certainly get a spindle-shaped grille, but even so, the Harrier's nose seems to protrude further than the RX's and the headlamps are a notably different shape. The greenhouse is also a different shape, coming to a sharper point at the back, and the mirrors are fixed to the A-pillar not to the door panel. The taillamps are revised, the tailgate has a new profile and there's a pseudo-diffuser at the bottom of the rear bumper. Subtle changes, to be sure, but then Toyota and Lexus are known for their evolutionary approach to styling. The interior has apparently undergone some updates as well, with a more dynamically styled dashboard, a more symmetrical center stack and different seats, steering wheel, door panels... the works. The infotainment display screen has also moved further down from its position in the current RX.
Toyota will offer the new Harrier with a 2.0-liter four mated to a CVT and driving either the front wheels or all four, and a hybrid setup with a 2.5-liter married to a 140-hp electric motor. The RX is offered here with a 3.5-liter V6 either on its own or with an electric assist. We wouldn't expect Lexus to go swapping the larger engines for the smaller ones, at least not for the US market. There's plenty more to the Harrier, of course, than the similarities and differences to the Lexus RX, and if you're buying a premium crossover in Japan, you can delve into the full details in the press release below, together with the images in the gallery above.