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Toyota and Suzuki partner up on autonomy with capital alliance

TOKYO — Toyota and Suzuki will take small equity stakes in each other, the Japanese car makers said on Wednesday, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry. The tie-up is the latest example of automakers chasing scale to manage costs and boost development. Automakers — especially smaller ones like Suzuki — are struggling to meet the breakneck growth of an industry transformed by the rise of electric vehicles (EVs), ride-hailing and autonomous driving. Toyota will pay around 96 billion yen ($908 million) for a 4.94% stake in Suzuki, while Suzuki will acquire in the market around 48 billion yen ($454 million) worth of shares in Toyota. That is equivalent to 0.2% of Toyota's shares as of Wednesday's closing price, before the announcement. The companies said in a joint statement they intended to overcome challenges facing the industry by "building and deepening cooperative relationships in new fields while continuing to be competitors". They said they would strengthen technologies and products in which each of them specialize in. The firms had said in 2016 they were exploring a partnership, citing technological challenges and the need to keep up with industry consolidation. Earlier this year they said they would produce EVs and compact cars for each other. Automakers around the globe have been joining forces to slash development and manufacturing costs of new technology. Ford and Volkswagen have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Shares of Toyota and Suzuki closed little changed before the announcement. TOYOTA'S ORBIT The deal brings Suzuki firmly into Toyota' orbit, alongside Daihatsu, Hino Motors, Subaru, Mazda and Yamaha. Rival Nissan has an alliance with France's Renault, although that has been shaken following the ouster of former Chairman Carlos Ghosn, and with Mitsubishi Motors. Honda has a tie-up with General Motors. Toyota has been looking to expand scale in next-generation technology and said this year it would offer free access to patents for EV motors and power control units. It believes that move would help it cut by as much as half the outlays for expanded electric and hybrid vehicle components in the United States, China and Japan. Supplying rivals would greatly expand the scale of production for hardware.

Russian videographer nails this real-life 'Need for Speed' recreation

Aaron Paul and Kid Cudi tried. They really did. They put forth a decent acting effort, played with some incredible replica supercars, and filmed at some remarkable settings. But it's 2019, and 2014's "Need for Speed" sits at a 6.5/10 on IMDB, a 39 on Metacritic, and a 57% audience score on Rotten Tomatoes. The studio attempt to bring "Need for Speed" to life was lukewarm, so a Russian videographer took a shot at the idea with this impressive digital short. Unearthed by Reddit user, AbuDab1, the clip is the work of Russia-based videographer @Chekunov_v. Clearly a fan of all things fast and fancy, as seen by his Instagram, Chekunov recreated the start screen, the garage with car and mod selection, and the race sequences from the video game. The video starts with an Acura RSX Type-S (labeled as the Integra Type R) with familiar theme music playing in the background. Accompanied by video game sound effects, the spotlight switches between a Toyota Celica, a Toyota Supra and a Mitsubishi Lancer Evo. The Supra and Evo are locked, so the user settles on the Celica. He goes on to select mods, including a new spoiler, new wheels and a new color, again to the tune of the proper sound effects, menus and camera views. The car exits the garage and rolls onto the road, where the screen now shows a tachometer and an N2O gauge. The Celica is met with a race challenge, and the car lines up with a Mazda RX-8, an Acura RSX Type-S and a Subaru WRX STI. After a terrible launch, the Celica uses some NOS and takes the victory. Unfortunately, the video is a bit 2 fast, 2 short for our taste. It's well done, has some unique video work, and takes us back into one of our favorite video game series. Maybe this guy can direct the studio sequel.

Will Toyota lose up to 70% of its workforce in TX relocation?

Toyota's decision to move its US headquarters from its longtime home in Torrance, CA, to Plano, TX, was one of the biggest stories in the automotive industry this spring. With several months since the announcement, more details about the plan have leaked out. It seems that pulling up stakes could mean an even larger shakeup in the Toyota workforce than first thought.
According to Automotive News, Toyota intends to hang onto around 50 percent of its workforce in the move to the Lone Star State. However, even that figure might be optimistic. According to an unnamed insider speaking to AN, there is a fear the actual number could be closer to 30 percent. For comparison, Nissan retained about 42 percent of its workers in its move from California to Tennessee.
The actual percentage making the move is a mystery because Toyota is still rewriting its job descriptions under a single set of guidelines. The changes affect benefits, bonuses and the reporting structure, according to Automotive News, and employees' reactions could play a big role in who decides to go. According to an unnamed worker speaking to AN, the wait is hurting morale. Some people are even applying at the nearby Honda headquarters.