Toyota completes Daihatsu takeover

Toyota completes Daihatsu takeover

Toyota president Akio Toyoda and Daihatsu president Masanori Mitsui

Toyota president Akio Toyoda and Daihatsu president Masanori Mitsui

Toyota Motor Corporation has announced a deal – reported earlier this week in AutoTalk – that will see them fully takeover partner Daihatsu.

Daihatsu will lead development of small and Kei car vehicles for both of the brands – its current specialty.

Explaining the decision, Toyota president Akio Toyoda said, “This is an opportunity for us both to stop feeling that we need to go it alone, and trust each other to take full advantage of our respective strengths.”

“In other words, we can now focus on our core competencies,” Toyoda said “That, I believe, is the key to achieving and sustaining global competitiveness.”

Under a joint strategy, Toyota and Daihatsu intend to combine their bases of operations in addition to sharing their respective areas of proficiency and technical expertise.

The differentiation between Toyota’s and Daihatsu’s brands will continue, and the product lineups of both will be optimised in accordance with customer preferences, with Daihatsu taking the lead in developing products offered within the small car lineups of both brands.

The statement about the merger says Toyota’s focus will remain on technologies related to the environment, safety, user experience, and comfort, while Daihatsu will continue to leverage its aptitude for turning technologies into packages for vehicles, as well as developing cost- and fuel-efficient technologies.

Daihatsu will also contribute to the development of next-generation technologies from the perspective of cost-efficiency and miniaturisation.

The deal is being done by a share swap.

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