Toyota and Mazda reach basic agreement for business collaboration (Toyota President Akio Toyoda and Mazda President Masamichi Kogai)

Toyota and Mazda reach basic agreement to expand cooperation in environmental and advanced technology

Toyota and Mazda signed a memorandum on May 13 to leverage their management resources and build an ongoing partnership to supplement each other’s products and technologies in a bid to further enhance the appeal of cars.

To date, the two companies have also collaborated in manufacturing Toyota cars at Mazda’s Mexico plant and in the transfer of Toyota’s license for its hybrid system technology to Mazda.

The agreement is the result of a match that had been found between Toyota, which is making efforts for structural reform, and Mazda, embracing its slogan to offer a sparkle to people’s lives through their car life, and will be effective beyond conventional frameworks of collaborations for a mid- to long-term period to create new values for cars.

Toyota and Mazda said they will set up a joint committee to consider details for specific tie-ups to leverage their respective strengths, such as environmental and advanced safety technology.

(Translated by Eriko Sugita)