Toyota to provide hybrid vehicle technology to Mazda

Toyota Motor Corp. will provide its hybrid vehicle technology to Mazda Motor Corp. to help the latter quickly catch up with rivals in the market for fuel-efficient vehicles, the two carmakers announced. Mazda aims to begin rolling out hybrid cars in Japan by 2013, the two companies said in a joint press release. The two Japanese automakers have been in talks over the supply of Toyota’s gasoline-electric powered system to Mazda since last year. The agreement comes as major carmakers rush to develop more fuel-efficient cars as emission regulations become stricter in key markets. (March 29, 2010)