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Toyota, Subaru team up to develop electric SUV
TOYOTA Motor Corp and Subaru Corp on Thursday said they plan to jointly develop a battery-electric sport-utility vehicle (SUV) on a platform produced together as they seek to split the cost of producing the lower-emissions car.
The pair will apply Subaru's all-wheel-drive technologies and Toyota's vehicle electrification technologies to the new SUV, which each will sell under its own brands, the carmakers said in a statement.
The move to share technology underlines the conundrum facing Toyota and other global carmakers, which are competing to develop new vehicle technologies including all-battery electric cars and self-driving cars, which require massive investment.
Toyota is looking to partnerships with rival carmakers and tech firms to reduce its capital outlay for developing these new technologies.
In April, it announced it would supply other carmakers with its hybrid technology, an area it has led since it pioneered the Prius in 1997.
While the Japanese carmaker has led in technologies for hybrid and fuel cell vehicles, it has trailed behind rivals such as Nissan Motor, Volkswagen and Tesla in bringing fully electric vehicles to showrooms.
As the smallest of Japan's major carmakers, Subaru is struggling to independently invest in and develop lower-emission vehicles and on-demand transportation services widely seen as necessary to survive technological upheaval in the global vehicle industry. REUTERS