Honda Motor Co.'s go-it-alone strategy looks increasingly risky as an alliance-happy auto industry scales up to cope with the soaring investment needed for self-driving vehicles, electrified power trains, connected-car technologies and artificial intelligence. In the latest industry tieup, Toyota Motor Corp. and Mazda Motor Corp. on Friday announced plans to jointly invest in a $1.6 billion assembly plant in the U.S. with the capacity to produce 300,000 Toyota Corollas and a new Mazda crossover model starting 2021. Toyota will acquire about 5 percent in Mazda, which will hold a 0.25 percent in the bigger automaker. The duo will also combine engineering efforts on electric vehicle development and car-networking know-how. Honda President and CEO Takahiro Hachigo, like his predecessors, isn't a fan of big alliances that involve equity stakes.

NAGOYA – Toyota Motor Corp. and Mazda Motor Corp. are set to form a capital alliance to boost joint development of electric vehicles, sources close to the matter said Friday. Japan's largest carmaker is mulling taking a roughly 5 percent stake in Mazda, while Mazda may also invest in Toyota, the sources said. The two automakers are expected to announce the plan later in the day. Toyota is scheduled to release its earnings results for the April-June period on Friday afternoon. Global carmakers are facing growing costs to comply with stricter emission and other environmental regulations.

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.