June 6, 2019 / 5:06 AM / a year ago

Toyota, Subaru to develop battery electric vehicle platform

TOKYO, June 6 (Reuters) - Toyota Motor Corp and Subaru Corp have agreed to jointly develop a battery-electric-vehicle (BEV) platform and a BEV sport-utility vehicle for sale under each company's own brand, Toyota said on Thursday.

The companies will apply Subaru's all-wheel-drive technologies and Toyota's vehicle electrification technologies, Toyota said in a statement. bit.ly/2QO29il

Toyota and Subaru launched a partnership in 2005. Toyota is the largest shareholder in Subaru with a stake of 16.77%, according to Refinitiv data. (Reporting by Chris Gallagher; editing by Uttaresh.V)

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