Toyota, Mazda to expand technology sharing partnership
Rival Japanese automakers Toyota Motor Corp. and Mazda are expanding their partnership in order to focus on technologies in the areas of safety and fuel efficiency.
The companies are setting up a joint committee to figure out how best to work together. In a joint statement, both sides said the goal was to have their engineers work together on product development. The partnership will result in “more appealing cars,” they said, without elaborating.
The arrangement does not involve the companies taking financial stakes in each other.
Toyota has interest in Mazda’s fuel-efficient technology for gasoline engines and diesel vehicles called Skyactive.
The latest agreement will build on previous cooperation between the two companies: Toyota already provides hybrid technology to Mazda, and Mazda also makes compact cars for Toyota at its Mexico plant.
Toyota is the world’s No. 1 automaker in global vehicle sales.