Toyota and Mazda enter into long-term agreement for product and technology development (Toyota President Akio Toyoda and Mazda President Masamichi Kogai)

Toyota and Mazda team up to produce new products and technology

At a May 13 news conference in Tokyo, Toyota President Akio Toyoda and Mazda President Masamichi Kogai announced an agreement to move forward in the creation of an ongoing cooperative relationship for the development of products and new technologies.

Both companies signed the agreement on May 13. The companies are setting up a joint committee that will look for ways to realize goals for the development of better environmental efficiency and advanced safety technology.

At the signing, Toyoda said of the agreement, “Mazda is a company that has the same intention as we do, which is to build even better cars. We want to work together toward a craftsmanship that produces cars our customers will love.”

Furthermore, Kogai said, “Toyota is a company with a strong resolve to play a leading role in the future in terms of environmental efficiency and automotive craftsmanship. It is a great honor to work in partnership with Toyota and we hope to make truly excellent products together. Regarding future funding, Toyoda said, “Today we don’t want to speculate on anything outside of the present agreement,” expressing that the companies are starting with a clean slate.

In 2010, the companies entered into an agreement for Mazda to use Toyota’s HV technology and there is a plan for Mazda to build 50,000 compact sedans per year at the Mexico plant.

(Translated by Greg Scott)