Mazda Motor (7261.T), the fifth-largest automaker in Japan, announced plans to purchase hybrid technology from Toyota (NYSE: TM), Japan's largest automaker.
Mazda aims to begin selling its first hybrid vehicles in 2013. The vehicels will combine Toyota's hybrid systems with Mazda's engines.
According to a Reuters report the deal is indicative of two trends--the technological pairing of smaller automakers with larger rivals, and a distancing between Mazda and Ford (NYSE: F), which previously held a controlling stake in the Japanese company.
Mazda is collaborating with Itochu Corporation (ITOCF.PK) and American battery maker EnerDel on a project to test the integration of electric vehicles with smart grid technology.
The company is also developing its unique rotary engine to burn hydrogen, as an alternate fuel.
Read Reuters coverage of the Toyota deal at the link below.
