Toyota, Japan’s leading carmaker, and Suzuki, a small player in the Japanese car industry, have collaborating with the hope of developing a self-driving car. This comes in the wake of recent technological changes that have seen car manufacturers struggle to stay ahead.
They announced this past Wednesday that Toyota intends to buy 4.9 percent of Suzuki’s shares worth 908 million dollars, while Suzuki is expected to acquire close to 454 million dollars’ worth of Toyota’s shares.
Last year, the two carmakers agreed to collaborate in safety and ecological technology. However, this collaboration did involve exchanging shares. In this age of technology, carmakers are experiencing an expensive shift towards safety, artificial intelligence and ecological technology.
Toyota is a leading carmaker, and currently the manufacturer of the Prius, a top selling vehicle in the United States. It is Toyota’s hope that through this new collaboration, and their joint assets, they will be able to produce self-driving cars that can rival those produced by the likes of Tesla.
Toyota is known to make excellent and reliable cars that are used in almost all parts of the world. However, it will be interesting to see how they will fair out with regards to self-driving cars.