Toyota, Suzuki to join hands on technology development, may form capital alliance

NAGOYA – Toyota Motor Corp. and Suzuki Motor Corp. have agreed to form a tie-up in advanced technology development and other operations, sources close to the matter said Saturday. The two automakers will continue to discuss whether to expand the partnership to include a capital alliance, the sources said. The comprehensive tie-up comes after Toyota, Japan's biggest automaker by volume, and Suzuki, a small-car specialist, said in October they would start talks on how they could join forces. The deal is expected to be announced Monday, according to the sources. The global auto industry is facing soaring costs to meet stricter emissions regulations and develop advanced safety technology for electric vehicles and autonomous driving systems.