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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.

2015 will be the biggest year ever for cars at CES

Like the SEMA Show, major automakers are paying increasing attention to the CES, with 2015 expected to be one of the most auto focused yet. Ford, Volkswagen, Toyota, General Motors, Hyundai, Mazda, Audi, BMW and Fiat Chrysler Automobiles will all be in attendance when CES 2015 kicks off next week, taking up a record-breaking 165,000 square feet of space at the Las Vegas Convention Center. "We've come a long way from a single car on a carpet," Ford's Alan Hall told Bloomberg. Unlike SEMA, or a more traditional auto show, like the upcoming festivities in Detroit, CES doesn't necessarily focus on entire cars or the way they perform, but on the way our technology will interact with vehicles, and in how those vehicles will deliver information to drivers. "CES has become a major launch point for a lot of the big automakers," IHS tech analyst Mark Boyadjis told Bloomberg. "CES is a way for them to get on a global stage for technology." As for what kind of wares automakers will trot out in Las Vegas, we already know that BMW will show off an autonomous i3 electric car that can navigate its way through a multistory car park and can be hailed via a smartwatch app. According to Bloomberg, Hyundai will show off its own smartwatch app for the Genesis sedan, while Audi and Mercedes-Benz will show off autonomous vehicles next week. Automakers won't be the only companies looking to capitalize on CES. Tech firms, like chipmaker Nvidia, are becoming increasingly involved in the automotive game and will be in town showing their wares off to OEMs. "Two years ago, our booth would have been filled with PCs and people playing video games," Danny Shapiro, Nvidia's senior director for automotive business, told Bloomberg. "This year we made a strategic decision to shift the focus of the booth on automotive and de-prioritize some of the other things." Needless to say, you can expect to see a lot of news out of Las Vegas come next week. Stay tuned. News Source: BloombergImage Credit: Julie Jacobson / AP CES Audi BMW Chrysler Fiat Ford GM Hyundai Mazda Toyota Volkswagen Technology CES 2015

Toyota hydrogen vehicle visits CES, on sale in US in 2015

If there was ever any doubt that Toyota loves hydrogen vehicles, just listen to some of what Bob Carter, senior vice president of automotive operations for Toyota Motor Sales, USA, said today at the Consumer Electronics Show (CES) in Las Vegas: "Fuel cell electric vehicles will be in our future sooner than many people believe, and in much greater numbers than anyone expected." "Hydrogen works beautifully with oxygen to create water and electricity and nothing more." "This [hydrogen] infrastructure thing is going to happen." "I believe what I'm going to tell you about today is going to change our world." Sounds like love is in the air. In all seriousness, Toyota is incredibly bullish on the future of hydrogen as a part of the automotive landscape, and is now gearing up for the 2015 launch of its hydrogen sedan. The concept version of the car was shown for the first time at the Tokyo Motor Show last fall and is making its North American debut at CES today, alongside the still-under-camo engineering prototype. The reasons for Toyota's hydrogen confidence? The debut vehicle is supposed to be a "reasonably priced" car that has a range of 300 miles and a refueling time of about five minutes. Carter highlighted the engineering work that Toyota has done over the past decades to get the fuel cell system downsized while upping power output to over 100 kW. He also said the vehicle will have carry enough energy to power a house for a week, so company engineers are working on an export power supply device. The H2 Toyota sedan will start sales in California (the only state in the US where there are currently any hydrogen stations) next year. The automaker is working with the University of California Irvine's Advanced Power and Energy Program (APEP) to figure out where to build the next series of public hydrogen fueling stations. Today there are ten, but the model Toyota is using "is based on the assumption that owners want to reach a refueling station within 6-minutes" and shows that 68 stations would be able to serve around 10,000 hydrogen vehicles. 'Toyota Car of the Future' On Sale Next Year; Opens 2014 Consumer Electronics Show (CES) Reasonably priced hydrogen fuel cell electric targets 300-mile range, 3-5 minute fill-up LAS VEGAS (Jan. 06, 2014) – "We aren't trying to re-invent the wheel; just everything necessary to make them turn," said Bob Carter, senior vice president of automotive operations for Toyota Motor Sales (TMS), U.S.A.