October 12, 2016 / 10:16 AM / a year ago

Toyota CEO says nothing decided on any capital tie-up with Suzuki

TOKYO, Oct 12 (Reuters) - Japan’s Toyota Motor Corp and minivehicle maker Suzuki Motor Corp have yet to decide whether a possible business partnership will include a capital tie-up, the Toyota president said Wednesday.

“As for specific areas of collaboration, including a capital tie-up, that is completely a subject for discussion from here on,” Toyota president Akio Toyoda told a news conference after the companies announced they were considering a collaboration.

The carmakers cited technological challenges and the need to keep pace with rising consolidation in the global auto industry.

They also referred to difficulties Suzuki is having in research and development, as well as Toyota’s prowess in the area.

“R&D in the auto industry is changing rapidly,” Suzuki chairman Osamu Suzuki told the news conference. “The future looks perilous.” (Reporting by Naomi Tajitsu and Maki Shiraki; Writing by William Mallard)

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