In announcing the deal Wednesday,
Fuel-efficient kei cars, defined by their small size and maximum 0.66 liter engine size, are popular with farmers, deliveries and retailers. Their tiny size is a plus for maneuvering through Japan’s tiny roads and fitting into small parking spaces.
“We want to deliver better lives for people,” Toyoda said in an online news conference. “Kei cars make for a practical and sustainable lifeline for Japan.”
Under the tie-up,
Those three automakers combined control 80% of Japan’s truck market.
The addition of Daihatsu and Suzuki strengthens the partnership, and the manufacturers may work together in developing electric models together, the companies said.
Under the latest deal, Suzuki and Daihatsu will each acquire a 10% stake in the
Capitalized at
Toyoda acknowledged that the companies are rivals, but need to collaborate to benefit customers.
Working together can help automakers cut costs and boost efficiency. Kei models also hold potential for other parts of
Suzuki President
“I was so happy to learn
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