Under the deal Toyota will take a 4.9 percent stake in Suzuki Motor Corp. valued at $908 million, and Suzuki will make a $454 million investment in Toyota.
In 2017, Toyota Motor Corp. and Suzuki agreed to work together in ecological and safety technology. That deal did not include owning mutual stakes.
Auto manufacturers are facing a costly shift toward the use of artificial intelligence, the internet and other technologies. Partnerships are one way to share the enormous costs.
Last month, Volkswagen AG of Germany said it is investing $2.6 billion in a Pittsburgh autonomous vehicle company that's mostly owned by Ford, Argo AI, with a plan to put autonomous vehicles on the roads in the United States and Europe as early as 2021.
Under the deal, Ford will use VW's electric vehicle platform to build zero-emissions cars for the European market starting in 2023.
In February, BMW and Daimler said they are working together on self-driving cars.
Under their earlier agreement signed in 2017, Toyota and Suzuki are also cooperating in the Indian market, where Suzuki remains a strong player. They said they will continue to expand their collaboration.
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