Toyota Motor : , Suzuki explore business partnership 4-Traders

Toyota Motor and Suzuki, citing the major changes faced by the global auto industry and the need to bundle industry-wide R&D resources, said they are exploring a business partnership. The two automakers provided little detail on the nature of their talks, but said in a press release that, next to traditional areas of R&D focus, it is increasingly important to work together with other companies on areas such as infrastructure development, as well as the establishment of new industrial standards. Toyota is the worlds biggest automotive group, with a presence in virtually all car segments. Suzuki is much smaller but has a strong position in small cars, especially in Japan and India. It has a dominant share of the rapidly expanding Indian market through a partnership with local producer Maruti.