NAGOYA, Japan -- Toyota Motor announced on Friday that the company will turn Subaru into an equity-method affiliate, expanding the 14-year-old partnership between the Japanese automakers to invest more effectively in new technologies.
Toyota will raise its stake in Subaru above 20%, from around 17% now, under a broad agreement that also involves closer cooperation in new areas. The move is expected to cost about 80 billion yen ($742 million), based on Subaru's market capitalization.
