TOKYO (Reuters) – Toyota Motor Corp and Subaru Corp have agreed to jointly develop a battery-electric-vehicle (BEV) platform and a BEV sport-utility vehicle for sale under each company’s own brand, Toyota said on Thursday.
The companies will apply Subaru’s all-wheel-drive technologies and Toyota’s vehicle electrification technologies, Toyota said in a statement.
Toyota and Subaru launched a partnership in 2005. Toyota is the largest shareholder in Subaru with a stake of 16.77%, according to Refinitiv data.
(Reporting by Chris Gallagher; editing by Uttaresh.V)