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Toyota joins hands with Daihatsu for a new company to focus on compact vehicles

Toyota joins hands with Daihatsu for a new company to focus on compact vehicles
Santosh Nair Santosh Nair Tuesday 04 October 2016, 15:13 PM

Toyota and its fully owned subsidiary Daihatsu intend to build an internal company in January 2017 to focus on making compact vehicles for emerging markets.

In a statement issued by Toyota, the company admitted that while they would support Daihatsu’s efforts by providing knowledge and resources, the latter would be accountable for development, procurement and production of compact vehicles for emerging markets based on DNGA (a Daihatsu vehicle architecture). Jointly, both companies will formulate and share product and business plans, and also mutually utilise their existing production bases.

Explaining one of the benefits for Toyota of this initiative, Toyota Executive Vice President Shigeki Terashi said, "With the establishment of the internal company, Toyota intends to learn the very fundamentals of Daihatsu's competitiveness and change the way we work."

Daihatsu President Masanori Mitsui commented, "We will further advance our knowhow cultivated in the manufacturing of mini vehicles and be a Toyota Group driving force, not only for mini vehicles, but also for compact vehicles for emerging markets. For Daihatsu, this initiative represents an important opportunity for enormous and sustainable growth. Separately, both companies confirmed today that Daihatsu will continue to take the lead in the development of the Daihatsu brand."

Only an official statement from Toyota will be able to confirm if these cars can be expected in the Indian market. So, stay tuned to CarTrade for more.

 

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