Tokyo, Japan - Toyota and Suzuki, which began discussing a partnership in October, have announced they have signed a memorandum of agreement to work together on ecological and safety technology - a rapidly growing area in the industry - following approval by the company boards.
Another area for possible collaboration is information technology as well as supplying each other with products and components. The next step would be to come up with specific cooperation projects, they said.
Suzuki does not have a hybrid, electric or fuel-cell vehicle in its lineup. Self-driving cars are also a growing focus in the industry.
Toyota President Akio Toyoda praised Suzuki's pioneer spirit.
"I am truly thankful for having been given this opportunity to work together with a company such as Suzuki, which overflows with the spirit of challenge," he said. "Toyota looks forward to learning much."