Toyota and Suzuki agree to begin formal talks on partnership

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Toyota Motor Corp <7203.T> and Suzuki Motor Corp <7269.T> on Monday said they have agreed to begin formal talks aimed at forging a partnership between the two Japanese car makers in shared procurement, green vehicles, IT and safety technologies.

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Toyota and Suzuki said in October they were exploring a partnership, citing technological challenges facing automakers and the need to keep up with consolidation in the global auto industry.

(Reporting by Naomi Tajitsu; Writing by Tim Kelly; Editing by Chris Cushing)