Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Toyota may provide hybrid tech to Daimler

TOKYO, Sept 16 – Toyota Motor is in talks to provide technology and core components for hybrid vehicles to its German rival Daimler AG, newspapers reported on Thursday.

The world\’s top automaker will consider providing Daimler with motors and batteries in addition to technology, upon the request of the German carmaker, according to the evening edition of the Nikkei business daily.

If they strike a deal, Daimler will be the fourth automaker receiving Toyota\’s hybrid parts and technology following Ford, Nissan and Mazda.

Sales of components to Daimler would help Toyota expand production of hybrid vehicles that run on gasoline and electricity, and thus reduce costs, the Nikkei said.

Toyota and Daimler will also consider forming a broad alliance that would cover cars powered by fuel cells, it added.

The two companies began negotiations a year ago, and their talks are now focusing on which hybrid parts will be supplied, said the evening edition of the Yomiuri Shimbun.

Toyota declined to confirm the reports, but acknowledged interest in expanding its supply of hybrid technology to rival carmakers.

"As has been our ongoing stance, if we receive requests from outside companies, we will consider the requests, taking into account factors concerning our production capacity and sales," it said in a statement."

Toyota\’s Prius hybrid has been a success for the carmaker, particularly in Japan where the compact vehicle has topped the country\’s best-seller list since May 2009.

The automaker has been plagued by safety recalls in the past year for unintended acceleration, engine, steering and brake problems, with around 10 million vehicles in total affected.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...