Toyota, Mazda Confirm Broadened Tech Tie-Up

Toyota Motor Corp. and Mazda Motor Corp. confirm they are launching a long-term alliance to leverage their resources.

Last week the Nihon Keizai reported the companies were in talks about sharing more powertrain technologies. Toyota already licenses its hybrid technology to Mazda.

Toyota and Mazda are setting up a joint committee to decide how to best use each others strengths. They offered no specific plans but say they envision a wide range of projects in such areas as safety and the environment.