Toyota Motor Corp will raise its stake in Subaru Corp to 20% f...
) to 20% from around 17%, the two Japanese automakers said on Friday, as they leverage their scale to better compete in developing new vehicle technologies.
The investment comes a month after Toyota and another smaller Japanese automaker, Suzuki Motor Corp , said they would take small equity stakes in each other. “In this once-in-a-century period of profound transformation, by strengthening their bonds and aligning their capabilities, Toyota and Subaru aim ... to make ever-better cars,” Toyota said in a statement.
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