Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Japanese automaker Suzuki and Daihatsu are coming together for an electric vehicle (EV) coalition led by Toyota Motors, according to reports.


The carmakers announced that this joint venture would be an initiative to help the Japanese alliance expand its focus from trucks to smaller vehicles.


Suzuki and Daihatsu will each acquire a 10pc holding in the venture. Toyota will hold 60pc, while Izuzu Motors and Hino Motors will retain a stake of 10pc each. This move comes amid growing competition from tech giants who have already made inroads in the electric and driverless cars sectors.


Suzuki Motor had recently announced, it will enter the EV market by 2025. The automaker is planning an all-electric compact model which could be available in the market for around JPY1.5mn.



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