Toyota Increases Its Stake in Subaru to Almost 17 Percent

Toyota has announced today that the automaker has increased its shares in Fuji Heavy Industries Ltd., the parent company of Subaru.

Fuji Industries sold 61 million shares valued at 31.1 billion yen ($293 million) to Toyota, which means that Toyota now owns 16.61 percent of the company (up from 9.5 percent). Subaru have continued to strengthen their relationship after GM sold off the shares it had in Subaru. The two automakers are currently working on a new RWD coupe that will be sold under both brands and future hybrid vehicles. The rear-wheel-drive coupe is going to be sold as a Toyota in Japan and a Subaru in other markets, like the US.

Full Story: eGMCarTech

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