Toyota’s EV venture will be joined by Suzuki and Daihatsu

The joint project will make the competition among EV manufacturers stronger

toyota-suzuki-daihatzu

Suzuki Motor Corp and Daihatsu are expected to join an electric vehicle coalition led by Toyota Motor Corp which will help the alliance to shift its focus from trucks to smaller cars.

Toyota will hold a majority stake with 60% while Suzuki and Daihatsu will have a 10% stake each. Toyota president, Akio Toyoda said that the joint project will help them to cover mini vehicles too, other than commercial vehicles. He also presented the hope of building a “better mobility society”.

This joint venture came to the forefront as the companies faced stiff competition from other EV makers. Toyota together with Isuzu and Hino had launched the Commercial Japan Partnership Technologies to improve their technologies for building commercial vehicles.

Soichiro Okudaria, president of Daihatsu said that this project will allow data sharing and will enable the companies to provide more efficient services to their customers.