World car market has been witnessing loads of back and forth in the global competitions. Toyota which is one of the top car makers is in talks again for the joint venture proceeding with Suzuki.
Two auto giants Suzuki and Toyota agreed to talk about the partnership which will be more focused on safety technologies, Information technology, shared procurement, and green vehicles.
The agreement will allow the two Japanese car makers to come closer to a merger which will probably enable Suzuki to access the technology of Toyota. The Joint venture will also be beneficial for Toyota—the second largest car maker as Suzuki holds a strong position in the market due to affordable compact cars and mini-vehicles.
Previously in October, both the companies were in plans to start the joint venture to analyze the technological challenges and to overcome those issues to the keep global auto industry consolidated.
Suzuki which ranks fourth in the listing of Japanese car automaker agreed that it have been witnessing various issues related to the pace of research and development in order to compete in the technological race. On the other hand, Toyota invests enormously in Research and development more specifically in autonomous cars, low emission cars, and artificial intelligence. Hence, this partnership will be fruitful for both the companies.
Suzuki dominates the Indian car market and holds a record-breaking car sale in India, Toyota despite being second largest in the world and third largest in the country still struggles to achieve the significant position in the country.