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When did Toyota buy Suzuki?
I’m always intrigued by the business side of the automotive industry and how mergers and acquisitions can level the playing field. However, I don’t know all that much about foreign automakers. When was Suzuki purchased by Toyota?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Toyota
didn’t buy the entirety of Suzuki—Suzuki remains its own company. However, Toyota purchased a 4.94% stake in Suzuki in 2019 for $910 million. In return, Suzuki will also get around $36 million worth of Toyota stock, giving it a 0.2% interest in the automotive firm.The idea behind this acquisition is a creative partnership between the two Japanese firms. Both firms cited increased competition from established and emerging automotive companies as the reason behind the acquisition.
More importantly, the companies have stated that creating a new fleet of
electric vehicles (EVs)
is their main priority—especially as governments around the world have reaffirmed their commitment to EV-only roads over the next few decades.View full answer
- Gregory R.
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