In a step to manage development costs, Toyota and Mazda will be sharing advanced technologies when it comes to their electronic cars. Company sources have mentioned that the partnership has been fuelled by strict emission regulations, rising competition and costs.

Although officials haven't confirmed the details, it is understood that Toyota will share its fuel cell and plug-in hybrid technology, while Mazda will supply its efficient range of SkyActiv engines. Mazda has been exploring the option of developing its own fuel-cell vehicle for some time now, but has decided to strengthen efforts through this partnership. The two companies are said to be already working together, with Toyota producing the Scion iA, based on the Mazda 2 saloon, and Toyota’s next generation Yaris, based on the Mazda 2's hatchback version.

Fiat-Chrysler Automobiles has also recently called for the increased sharing of widely used components across the industry, claiming manufacturers could save billions by sharing more under-the-skin parts, which is specific to international markets.