Suzuki and Daihatsu to join Toyota EV JV

Suzuki and Daihatsu to join Toyota EV JV

July 21, 2021 0 By autotimesnews

The companies will join forces to develop promising electric vehicles on Toyota’s common units and assemblies

Two Japanese car manufacturers Suzuki and Daihatsu will join the Toyota EV joint venture to design new electric vehicles, Reuters said.

Until this point, the co-production focused on the development of electric trucks. Now the focus of the joint venture will be shifted from commercial to light vehicles.

Suzuki and Daihatsu will be required to buy back 10 percent of Toyota EV shares. In addition to them, Isuzu Motors and Hino Motors have the same number on hand. The remaining 60% remain with the parent brand Toyota.

Toyota is increasingly uniting other Japanese brands around itself. Although the brand does not officially own all of them, Toyota’s influence over these manufacturers is significant. However, this is a completely natural response to the growing competition from Western manufacturers, who have focused on the development of electric and self-driving cars. In this case, the strategy of the Japanese for unification can bear some fruit.

Recall that earlier Suzuki announced its first model on the electric vehicle market, which will appear no earlier than 2025. It is interesting that the company’s promising electric car will appear not in Japan, but in the main market for the company – India. The compact model will be available to buyers for 1.5 million yen.

In addition, the company has confirmed the development of new hybrid vehicles. It is likely that they will appear in the brand’s lineup much earlier than pure electric vehicles, but no specific dates have been reported.