Toyota and Subaru have shared more details on their business collaboration. Along with the joint development of a platform dedicated to battery electric vehicles (BEVs) and to jointly develop an electric vehicle, both companies will work on developing the next generation Toyota 86 and Subaru BRZ.
In addition, Toyota will increase its equity stake in Subaru and Subaru will acquire shares in Toyota. Shares up to an amount that will result in Toyota having a total of 20 percent of voting rights in Subaru. Based on the status of Subaru shares as of March 31, 2019, the number would be 24,289,500 Subaru shares, which would equal to 3.17 percent of Subaru voting rights.
Toyota currently holds 16.83 percent stake in Subaru. Subaru will acquire shares equivalent to the amount (up to ¥80 billion) necessary for Toyota to acquire Subaru shares as described above.
Following the Crosstrek Hybrid, Toyota will share its hybrid technology with other Subaru models. Both companies will also collaborate in the field of autonomous driving.
Between our company and Toyota is an alliance that already has a history of 14 years. During this time, we have deepened our bonds in various fields such as product development, production, and sales, including through personnel exchanges. By taking our relationship one step further and mutually honing our technologies, we will strengthen our ability to respond to CASE (connected, autonomous/automated, shared, and electric) and other demands, and will accelerate our shared aspirations for making ever-better cars. – Tomomi Nakamura, President, Subaru
During this once-in-a-century period of profound transformation, even if CASE changes how cars will be, driving enjoyment will remain an inherent part of automobiles and is something that I think we must continue to strongly preserve. I, myself, am a rallyist, and, through my experience of training hard in an Impreza, I have felt in my veins the wonders of Subaru’s AWD technologies. Meanwhile, we at Toyota have been going all out to hone our all-wheel-drive technologies by participating in the World Rally Championship, among other activities. Our companies, both of which have long pursued driving enjoyment, now want to pursue the possibilities of making ever-better cars suitable for the CASE era by bringing together our strengths and by further deepening our relationship. – Akio Toyoda, President, Toyota
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