Toyota and Daihatsu is all set to establish a joint internal company that will focus on developing compact vehicles. In a statement released by Toyota, the new company will kick start on January 1, 2017 and it will be called the “Emerging-market Compact Car Company.”
The joint company intends to produce competitive compact cars based on Daihatsu’s “affordable, high-quality products.” The joint company is to consist of 3 divisions: (1) Compact Car & Business Planning Division, (2) Compact Car Product Planning Division, and (3) Compact Car Quality Planning Division.
The Compact Car Product & Business Planning Division is said to take charge of coming up with proposals and overall strategy for the Toyota-brand vehicle product line-up for emerging markets, with Asia as an important base.
On the other hand, the Compact Car Product Planning Division and the Compact Car Quality Planning Division will be responsible for final product development and quality for Toyota-brand vehicles.
Daihatsu President Masanori Mitsui will be the appointed chairman of the joint company, while Toyota Managing Officer Shinya Kotera will be the appointed president.
As a review, Toyota and its subsidiary Daihatsu have reached an agreement last January 2016 whereby the latter agreed to become a wholly-owned subsidiary of Toyota. The 2 companies team up in order to exchange technological know-how and other beneficial strategies.
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Steel wouldn’t let aluminum take its position as the top player in the automotive industry.
This timing is indeed perfect for a potential partnership.
Quite a sad exhibit but hey, at least now we know.