Toyota and Suzuki team up for development of self-driving car technology

Toyota Motor Corp. President Akio Toyoda, left, speaks with Suzuki Motor Corp. Chairman Osamu Suzuki during a news conference in Tokyo on Oct. 12, 2016. The two automakers announced Wednesday, Aug. 28, 2019, they are partnering in the development of self-driving car technology. TOKYO – Japan's top automaker, Toyota, and smaller rival Suzuki are partnering in the development of self-driving car technology, as manufacturers around the world grapple with innovations in the industry. Under the deal, announced Wednesday, Toyota will take a 4.9% stake in Suzuki Motor Corp. valued at 96 billion yen ($908 million), and Suzuki will make a 48 billion yen ($454 million) investment in Toyota. In 2017, Toyota Motor Corp. and Suzuki agreed to work together in ecological and safety technology.