Toyota has now completed its full takeover of Daihatsu. The purchase was completed on August 1. Toyota announced the plan to take full ownership of Daihatsu in January, in which it already had a 51 percent stake. The two companies formed a business partnership in 1967, and Daihatsu became a Toyota subsidiary in 1998. Daihatsu will become the group’s core unit for small vehicle operations, and Toyota has signalled its intention to accelerate the development of small vehicles following the purchase. Toyota aims to boost its share in emerging markets, especially India, where low-cost vehicles are popular. In the Indian market, Toyota’s share is only around 4 percent, while rival Suzuki holds 45 percent of the market. Daihatsu, which relies on the Japanese market for 65 percent of its sales, wants to expand overseas, as the domestic market is expected to shrink due to an increasingly ageing population. Daihatsu currently has only petrol vehicles in its lineup, but is looking to develop a mini-vehicle using Toyota’s hybrid technology. It also hopes to benefit from Toyota’s driverless and other cutting-edge technologies.