The 21st century technological era of today has significantly revolutionized the world with emerging latest positive innovations for bringing in an ease and convenience in the lives of people. In the automobile industry, there have also been rapid advancements by introducing futuristic technology cars for customers.
For setting a new milestone in the automobile technology, the two leading Japanese automakers Toyota and Mazda have recently come up together to sign a long-lasting partnership agreement on 4th August 2017 for fulfilling the core purpose of achieving these following goals.
- To establish a joint venture for manufacturing vehicles in the Unites States
- To jointly develop technologies for Electric Vehicles (EV’S)
- To jointly develop connected-car technology and collaborate on advanced safety technologies
- To expand complementary products
TO ESTABLISH A JOINT VENTURE FOR MANUFACTURING VEHICLES IN THE UNITED STATES
Toyota and Mazda have agreed upon establishing a joint venture plant in the United States with their equal funding contribution. The plant would have an estimated annual production capacity of 300,000 units and it will require a total investment of approximately 1.6 billion U.S dollars to create up to 4,000 jobs. Toyota and Mazda have intended to improve competitiveness in manufacturing through this new production collaboration.
At this new plant, Mazda is expecting to manufacture cross-over models which will newly be introduced to the North American market, and Toyota also plans to produce the Corolla for the North American market.
By producing vehicles in the US Market, Mazda aims to build a proper production structure to see an exponential growth in North America. These activities will allow the company to more quickly responds to its customers’ needs depending on the region and model.
TO JOINTLY DEVELOP TECHNOLOGIES FOR ELECTRIC VEHICLES (EV’S)
Toyota and Mazda are joining hands together for development of competitive edge to have freely and actively mobilization of electric vehicles technologies as this will allow the companies to respond quickly to regulations and market trends in each country.
TO JOINTLY DEVELOP CONNECTED-CAR TECHNOLOGY AND COLLABORATION ON ADVANCED SAFETY TECHNOLOGIES
Toyota and Mazda will work together to jointly develop technologies for on-board multimedia infotainment systems in preparation for increased use of in-car information technologies and the increasing demand for connected technologies. In addition, Toyota will cooperate with Mazda in Toyota’s vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) technologies with the ultimate goal of creating an accident-free mobile society.
TO EXPAND AND PROMOTE COMPLEMENTARY PRODUCTS
Currently, Mazda is supplying a compact sedan to Toyota in North America. In addition, Toyota is going to supply a compact commercial “two-box” van to Mazda in Japan. Beyond this, the two companies will be exploring the possibilities of various other complementary products on a global level for further strengthening their mutual alliance. These two companies will aim to develop sustainable collaboration, maximizing the synergies of the business and capital alliance by mutually acquiring shares.