Toyota Motor Corporation and Mazda Motor Corporation today entered an agreement to build a mutually beneficial long term partnership. By leveraging the resources of both companies to complement and enhance each other’s products and technologies, the partnership will result in more appealing cars that meet the diverse needs and tastes of customers all over the world.
A joint committee will now be set up to evaluate how best to utilize each company’s respective strengths. The committee will encourage broad and meaningful collaboration across a range of fields, including environmental and advanced safety technologies.
Previous collaboration between Toyota and Mazda has included the licensing of Toyota’s hybrid technologies to Mazda and the production of compact cars for Toyota at Mazda’s plant in Mexico.
Toyota and Mazda recognize that there is considerable overlap between Mazda’s corporate philosophy of bringing joy to people through vehicles and Toyota’s commitment to making ever-better cars, as well as its dedication to company-wide structural reforms to realize true competiveness and sustainable growth. This latest agreement will go beyond the traditional framework of cooperation, aiming instead to create a whole new set of values for cars through wide-ranging medium to long term collaboration.
