Toyota is boosting its stake in Subaru to about a fifth of the smaller automaker, as Japan’s biggest car company arms itself for a future of self-driving vehicles, electric cars and evolving transport services.
Subaru, the maker of Forester and Outback wagons, will also take a stake in Toyota, strengthening their capital ties and collaboration, according to a statement from the companies. Toyota, which is increasing its holding to about 20 percent from 17 percent at a cost of about $700 million at Friday’s closing price, plans to make Subaru an equity affiliate, bringing sales and profit from the automaker onto its income statements.
Toyota first took a stake in Subaru in 2005, and the move is part of a plan of spreading its bets.
