Toyota, Suzuki alliance signed

Toyota Motor Corp and Suzuki Motor Corp signed an agreement to start "concrete examination" of a business partnership, after beginning exploratory talks in October.

The two companies will work toward an "early realization" of an alliance in areas including technology and the mutual supply of products and components, according to a joint statement to the Tokyo Stock Exchange on Monday. There is no deadline for making a decision on a capital tie-up, said Suzuki Vice-Chairman Yasuhito Harayama.

Carmakers are forging partnerships as the industry comes under pressure from regulators after several major self-inflicted scandals and amid rising costs of developing cleaner cars to meet stringent environmental standards.