Toyota and Mazda officially announced their strategic partnership in mutual sharing technologies today.
The two Japanese companies will benefit from smaller development costs with Toyota said to share its plug-in hybrid and fuel cell technology and Mazda to allow the use of its Skyactiv engine range as the first step of the agreement.
Toyota President Akio Toyoda said: “I am delighted that our two companies can share the same vision and work together to make cars better. I can think of nothing more wonderful than showing the world -together- that the next 100 years of cars will be just as fun as the first.”
President and CEO of Mazda Masamichi Kogai added: “I hope that by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima, and all the communities we are involved in as well.”
This agreement is expected to bring down the huge development costs of new efficient powertrains for both companies which will collaborate “beyond the traditional framework of cooperation” aiming to create a strong bond on a long-term basis.