TOYOTA TO INCREASE ITS SHARE IN SUBARU
Japanese car producer Toyota Motor will increase its stake in Subaru from about 17 percent to 20 percent.
The statement was made by Toyota and Subaru, which are trying to gain an advantage in order to better compete in developing new technologies.
Toyota and Suzuki Motor, another small Japanese car producer, announced last month that they would go into a capital partnership. These capital partnerships shows the struggling to keep up with the rapid growth in the sector, where electric vehicles are increasing, vehicle calling and autonomous driving are common.
Toyota said the investment would amount to 80 billion yen ($ 650 million) based on the Subaru stock market value. Subaru will also receive equal shares in Toyota.