Toyota acquires 24,000,000 shares in Suzuki

MANILA: It seems autonomous driving and electrification of vehicles is one of the top-most priorities of today's automobile manufacturers.

And, in order to take bigger and better steps on the path of development, Toyota has struck a technical partnership with Suzuki. The announcement was made in March, earlier this year .

Moreover, this is not the first time around when Toyota has joined hands with other automakers.

Toyota has already acquired stakes in the likes of Subaru and Mazda in the past, and recent developments reveal that the automaker has bought 24,000,000 shares of common stock in Suzuki.

With the number of shares acquired, Toyota now holds 4.94% ownership in Suzuki. Besides Toyota buying Suzuki's shares, the latter is also set to get hold of an undisclosed number shares in Toyota worth 48 billion yen (around Php 23.75 billion).

Prior to the partnership with Suzuki, Toyota already had 5% and 16% ownership in Mazda and Subaru, respectively.

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