Toyota Motor Corp will raise its stake in Subaru Corp to 20% f...
) to 20% from around 17%, the two Japanese automakers said on Friday as they leverage their scale to better compete in developing new technologies.
The investment comes a month after Toyota and another smaller Japanese automaker, Suzuki Motor Corp , said they would take small equity stakes in each other. “Our companies ...want to pursue the possibilities of making ever-better cars suitable for the CASE era by bringing together our strengths,” Toyota President Akin Toyota said in a statement.
In a statement, Toyota said its investment would amount to up to 80 billion yen based on Subaru stock market value. Subaru will to reciprocate with a stake in Toyota of equal value.
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