Toyota buys stake in Suzuki

Toyota and Suzuki have announced a new capital alliance, which they say cements "the long-term partnership between the two companies for promoting collaboration in new fields, including the field of autonomous driving". As part of the new agreement, Toyota will buy 24 million newly allocated shares in Suzuki valued at roughly ¥96 billion ($1.34 billion). Once the transaction is completed Toyota will control 4.94 per cent of Suzuki's common stock.