Daihatsu, FHI, Toyota Strengthen Partnership in Development, Production
Apr 11, 2008 20:46
Keisuke Ogawa, Nikkei Automotive Technology
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FHI President Ikuo Mori, Toyota President Katsuaki Watanabe and Daihatsu President Teruyuki Minoura, announcing the strengthening of their partnership
Toyota Motor Corp, Daihatsu Motor Co Ltd and Fuji Heavy Industries Ltd (FHI) have announced the enhancement of their collaboration related to development and production. FHI will jointly develop a compact sports car with Toyota, while preparing to withdraw from the production of k-cars and focus management resources on its core businesses including horizontally-opposed engines.
The compact FR (front engine, rear drive) sports car that Toyota and FHI will co-develop is slated for market debut at the end of 2011. Although details have not been determined, the sports car will employ FHI's horizontally-opposed engine.
FHI will manufacture the car at a new plant to be built at FHI's Gumma Manufacturing Division and supply it to Toyota. The sports car will be marketed under the brand names of both companies, they said.
Meanwhile, Daihatsu will begin OEM (original equipment manufacturing) supply of minivehicles to FHI from the second half of 2009, gradually expanding the range of target models. Both the automobiles produced by FHI and the OEM vehicles will co-exist for the next few years, but "We will eventually replace all of our k-cars with OEM products supplied by Daihatsu," FHI President Ikuo Mori said.
Daihatsu will also start supplying the "Coo" compact car for the local market to FHI on an OEM basis from October 2008, projecting an annual supply volume of 6,000 units. Targeting the end of 2010, Toyota will commence OEM supply of compact cars to FHI as well, so that FHI can supplement its product lineup.
Toyota will also increase its stake in the shares of FHI. FHI is planning to transfer 61 million FHI shares owned by FHI to Toyota. Toyota will hold 16.5% of all outstanding FHI shares when the transfer takes place following the approval of Japan's Fair Trade Commission.
