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Toyota to boost its Subaru stake to more than 20%

TOKYO — Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, a deal that would also see the smaller firm invest in Japan's top automaker, two people with direct knowledge of the matter said on Friday. The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public. The investment would come a month after Toyota and another smaller Japanese automaker, Suzuki, said they would take small equity stakes in each other. Such tie-ups highlight how automakers are scrambling to chase scale, manage costs and boost development. Traditional car makers, especially smaller ones like Subaru and Suzuki, are struggling to meet the fast pace of change in an industry being transformed by the rise of electric vehicles, ride hailing and autonomous driving. Toyota's investment is likely to cost more than 70 billion yen ($650 million) based on Subaru's stock market value, said the Nikkei business daily, which first reported the news. Subaru is likely to reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of the people told Reuters. The companies have long worked together on projects such as the Toyota 86 and Subaru BRZ twins. At one time, Subaru built Toyota Camrys in its Indiana plant. Representatives for both Toyota and Subaru said the news was not something that had been announced by their companies. "The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a 'mega Toyota.' This is the first step towards that," said Takeshi Miyao, managing director of Carnorama, a consultancy. "It's all about building scale." Subaru is particularly strong in sport-utility vehicles (SUV) and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs. Car markers around the world have been joining forces to slash development and manufacturing costs of new technology. Ford Motor Co and Volkswagen AG have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Toyota seems to be particularly keen to build scale now by investing in smaller, domestic automakers, rather than forging cross-border tie-ups like some of its rivals.

Junkyard Gem: 2000 Subaru Legacy GT Limited Sedan

Due to the runaway success of the Subaru Outback wagon based on the third-generation Legacy, which appeared in North America for the 2000 model year, nearly all of the discarded 2000-2004 Subarus I find in my local Denver junkyards are these dime-a-dozen longroofs, mostly with H4 engines and automatic transmissions (though I do manage to run across the occasional rare H6 model). For a discarded example of the super-rare non-Outback Legacy GT sedan with manual transmission, I had to travel all the way to a Northern California car graveyard. Here it is! The GT Limited came with bigger brakes, faux-wood interior trim, and a bunch of winter-weather extras that probably weren't very useful in coastal California. All Legacies, wagon or sedan, had all-wheel-drive at this point. The "wood" didn't come from trees, but the leather did come from cows. I have a 2004 Outback wagon of this generation, complete with 5-speed manual transmission, and I must describe the driving experience and fuel economy as truck-like. Still, it has been very reliable during its 140,000-mile career and— when shod with proper winter tires— laughs off any kind of winter driving conditions Colorado can throw at it. If you're building a car-parts homemade boombox, be sure to get one of these weather-band-equipped Subaru radios. It's not a boombox party until you can listen to the robotic weather broadcasts. Although Americans seem less interested in sedans with each passing minute, Subaru still offers the four-door Legacy. Remember, the Outback wagon has always been based on the Legacy, not the other way around. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This car was built in Indiana, but we're going to look at the Japanese-market commercial for the turbocharged Legacy sedan because it's so action-packed. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In Israel, the Legacy sedan swam with sharks in a parking garage.

Subaru comes out on the right side of history, stands up against Indiana law

Well, I may as just get it out there straight up and let some percentage of you dear readers take your shots in the comments below: I find Indiana's new "religious freedom" law that opens the door to discrimination against gay people to be reprehensible, along with all the other laws across the country that do the same thing but with different wording. So I was thrilled today when Subaru, which has a plant in Lafayette, IN, came out and said it finds the new law pretty awful too. The statement, issued by Michael McHale, the company's director of corporate communications, says that while the company recognizes that each state gets to decide its own laws, the automaker does "not agree with any legislation that allows for discrimination, or any behavior or act that promotes any form of discrimination. Furthermore, we do not allow discrimination in our own operations, including operations in the state of Indiana." Although McHale told Autoblog Subaru is not considering leaving Indiana, the newly passed legislation has prompted others to say they want to take their business elsewhere. The NCAA said Monday it is taking a look at the law and trying to determine if it will be able to continue holding large sporting events in the state, according to ESPN. In a piece in The Washington Post, Apple's Tim Cook warned that these kinds of laws are being passed in dozens of states across the country and they are bad for business. He spotlighted one proposed law in Texas that would strip pension benefits from clerks who issue marriage licenses to gay people, even if the Supreme Court declares gay marriage legal. "Opposing discrimination takes courage," he wrote. "With the lives and dignity of so many people at stake, it's time for all of us to be courageous."