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Toyota is serious about small cars, but it's not going alone instead, he's turning to its Daihatsu subsidiary with which it will now share more resources and expertise and in the process, ie, is the acquisition of the remaining interest in the smallest automaker.
Daihatsu is a Japanese automotive manufacturer based in its current form in 1951, but with roots that also trace beyond 1907 Toyota acquired a majority stake of 51 percent Daihatsu in 1988, bringing the company under its umbrella But now it raises its stake to 100 percent by mutual agreement exchange of shares that view other Daihatsu shareholders take 0 27 shares of the largest company for each share in the smallest.
Under the new arrangement, the Daihatsu Division will take the lead in developing new small cars, both for itself and for its parent company Toyota in turn, will also share key technology with Daihatsu, and the two share their respective networks on most emerging markets is that we can expect to see smaller Toyotas and Scions developed and built by Daihatsu in the near future.
The Daihatsu name may not be as familiar to Americans as some of the others briefly sold models of Toyota brands such as Charade and Rocky in the US under its own name in the late 1980s and early 90s, however customers Americans may be more familiar with it built for the Scion brand like Scion xB that was based on Daihatsu Materia While the realistic part of our brain forces us to admit is unlikely, the dreamer in us will the hope that the new arrangement could see a small version of the Scion roadster Daihatsu Kopen agile make its way to our shores in the coming years.
Toyota and Daihatsu to build small cars through unified global strategy operations.
Toyota Motor Corporation Toyota and Daihatsu Motor Co Ltd Daihatsu subsidiary entered into an agreement under which Daihatsu will become a wholly owned subsidiary of Toyota through share exchange to be completed in August 2016.
The purpose of the agreement is to develop ever better cars by adopting a unified strategy for the small car segment, under which the two companies will be free to focus on their core competencies Ultimately, this will help and Daihatsu Toyota to achieve their common goal of achieving sustainable growth.
Moreover, the purpose of the exchange of shares is to enhance the value of both brands While Toyota and Daihatsu will participate in a friendly competition and to maintain separate management styles that take advantage of their capabilities, bringing the two together in a common strategy will enable them to jointly overcome obstacles prohibitive to another future, including companies in resource-intensive, such as the development of next-generation technologies and entry into business sectors in strong growth potential.
Explaining the decision, the president of Toyota, Akio Toyoda said, This is an opportunity for both of us to stop feeling that we need to go it alone, and trust to take full advantage of our respective strengths in d other words, we can now focus on our core competencies, I believe, is the key to achieve and maintain global competitiveness.
Daihatsu President Masanori Mitsui commented, I think we have now found an action plan that will enable us to continue our growth for the next 100 years, we see this as the perfect opportunity to cement our relationship with Toyota, and it doing, to embark on a new period of growth and raising the Daihatsu to a global standard.
As part of a common strategy, Toyota and Daihatsu are planning to combine their bases of operations in addition to sharing their areas of expertise and respective technical expertise This will leverage the benefits of both brands, allowing the development of attractive products that are competitive on a global scale.
A small cars differentiation between Toyota and Daihatsu brands s continue, and product queues of the two will be optimized according to customer preferences, with Daihatsu take the lead in the development of products offered in small lines of cars both brands Meanwhile, Daihatsu will continue to focus on developing specifically for vehicles to customers in areas where the brand already has a strong presence, while sharpening his skills and processes related to planning product and technology development for mini-vehicles.
B Technology The two companies will share development strategies and deployment of new technologies from the initial stages of design development of Toyota remain on technologies related to the environment, security, user experience, and comfort, while Daihatsu will continue to leverage its ability to transform technology into packaging for vehicles, and the development of cost-effective and efficient technologies Daihatsu fuel also contribute to the development of technologies of the next generation of the report's perspective cost efficiency and miniaturization expertise in the automotive industry the company will be shared within the Toyota group, which will further improve the competitiveness of large vehicles costs.
C Operations The two companies each use their operating bases in emerging markets Daihatsu will take the lead in improving the efficiency and adaptability in the development, procurement and production processes.
In Japan, sales of Toyota expertise and infrastructure will be used by companies to improve the Daihatsu brand image and profitability.
Board resolution regarding the execution of the share exchange agreement the two companies.
Toyota Daihatsu buys for smallcar development, Toyota, Daihatsu, development.