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Toyota, Mazda, Denso to set up electric vehicle joint venture, say sources

Toyota said it has been conducting various studies with Mazda to boost their alliance

Reuters  |  Tokyo 

Toyota Motor Corp, Mazda Motor Corp and parts maker Denso Corp are planning to set up a joint venture to develop electric vehicles, sources familiar with the matter said. Toyota, Japan's biggest automaker, agreed to take a five percent stake in smaller rival Mazda in August and the two have flagged plans to jointly develop electric vehicle technologies. A formal announcement on the joint venture will be made later in the day, the sources said, declining to be identified as they were not authorised to discuss the matter publicly. Global automakers are accelerating their ...

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First Published: Thu, September 28 2017. 10:40 IST
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