Two Japanese automotive giants, Toyota and Suzuki, has concluded a cooperation agreement and formed a new alliance. According to the terms of the deal, Suzuki pledges to buy U.S. $453,600,000 worth of Toyota shares, whereas Toyota will invest U.S. $907,000,000 in Suzuki stock.
Media first learned this spring that the two companies wanted to expand their cooperation in the R&D of new cars and autonomous vehicle technologies. The alliance should obviously help both parties strengthen their market standing while still enabling competition in some areas.
In 2016, Toyota and Suzuki signed a cooperation agreement in such areas as IT, automotive safety, logistics, and EV production. Both have been shipping their cars to India since. The Toyota Glanza, which you can see here, is essentially a trimmed-down and rebadged Suzuki Baleno which is currently available on the Indian market.