We'll soon see a jointly-developed EV from the Japanese companies.
Subaru and Toyota have had a successful partnership for many years now. Most observers will point to the Toyota 86 and Subaru BRZ twins as the pair's most successful achievement, but with the industry embracing electrification at a rapid rate, this alliance has shifted in its priorities. Back in 2019, the two Japanese companies announced that it would be co-developing a new platform for battery-electric vehicles.
To further the development of new technologies, Subaru has announced its acquisition of Toyota Motor Corporation shares to the value of approximately 70 billion yen, or around $675 million. Late last year, Toyota teased its upcoming electric mid-size SUV that is based on the e-TNGA platform jointly developed with Subaru.
Shortly after that, Subaru shared information about its own all-electric crossover which will be launched in Europe imminently, although an exact launch date remains unknown. This will be Subaru's first-ever electric vehicle.
With Toyota's electrification expertise and Subaru's reputation for solid all-wheel-drive systems, it should be one of the more capable and rugged electric crossovers on the market when it arrives.
Subaru's latest acquisition of 8,973,700 shares amounts to a 0.3-percent stake in Toyota and should see the further refinement and development of electric and autonomous technologies between the two brands. In its statement, Subaru said that it would "continue its efforts to further advance and strength the long-term relationship between the two companies."
The acquisition of shares is said to have no bearing on Subaru's financial performance for the current fiscal year that concludes on March 31.
While we look forward to the jointly developed EV crossover, we're equally keen to see the all-new Toyota 86, which will once again share much with the recently unveiled 2022 Subaru BRZ. The latter uses a 228-horsepower Boxer engine, finally answering one of the few criticisms of the outgoing BRZ which always felt like it deserved more power.
Be it affordable sports cars or advanced EVs, the Toyota-Subaru alliance is primed to flourish over the next few years.