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OK its now official after the presser Toyota Expands Tie-Up With Mazda to Share Car Technology - Bloomberg Business

This is the extent of what they're ready to admit:

The two Japanese automakers will set up a joint committee that will evaluate ways to utilize each other’s strengths, according to a joint press release issued Toyota and Mazda today. The partnership will result in “more appealing cars,” they said, without elaborating.
No financial tie up like Toyota has with Subaru or Nissan has with Renault.
 

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Reuters reports (in point form)

* Say agreed to build long-term partnership

* Partnership aimed at leveraging both companies' resources to complement, enhance products, technologies

* To set up joint committee to evaluate how best to use each company's respective strengths

* Committee to encourage broad collaboration across range of fields including environmental and advanced safety technologies

* Agreement to go beyond "traditional framework of cooperation"
I wonder what going beyond "traditional framework of cooperation" means. Any ideas on that?
 

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Well Mazda has had a great roadster for decades now and seems to have perfected it, the Miata.
I bet there's some technology and key things they can pull from that for a model that sits under it.
 

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New details on the relationship. Mazda will give Toyota SkyActiv diesels for its european compacts and Toyota will share prius tech. The two will collab on a diesel PHEV based on the prius...

Toyota, Mazda to collaborate on Prius-based SUV - report
that will be quite the concoction
both brands have done well with both setups and mashed together like that will churn out something to fear for the competition
 
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