Toyota Motor and Suzuki Motor have announced a technology collaboration that could help Toyota to cut the costs of auto-related technologies.

On Wednesday, September 12, Toyota announced that it is looking to collaborate with Suzuki to produce next-generation vehicles.

Toyota President Akio Toyoda held a press conference with Suzuki Chairman Osamu Suzuki to explain the deal. They revealed that there was another major personality behind the agreement -- Shoichiro Toyoda, Akio's dad and Toyota's honorary chairman

The negotiations between Toyota and Suzuki on a research and development partnership comes as carmakers try to comply with tighter controls on vehicle safety and emissions. The financial weight will increase further as carmakers strive to improve independent driving systems.

"Technologies in the auto industry are rapidly changing, and simply polishing the traditional technologies will not work in the future," Suzuki announced as the conference started. "In September, I consulted Shoichiro Toyoda about whether Toyota could cooperate with us. And the honorary chairman said the two companies could discuss cooperation."

Toyota, Japan's biggest carmaker known for its Prius hybrid-electric cars and fuel-cell vehicles, has been aggressively increasing its web of allies in recent times.

The company purchased veteran minicar producer Daihatsu and turned it into a wholly-owned subsidiary this year. It also announced a technology partnership with sports car creator Mazda last year.

"Suzuki and Shoichiro are people who led the Japanese auto industry globally. Their discussion is at a different level," Aiko said.

"Toyota has not been good with alliances in the past," he noted. "But as the environment which surrounds the automobile industry has been changing drastically, we need to have the ability to respond to changes in order to survive."