Long before Toyota tapped BMW to help it create the new-generation Supra, the Japanese automaker had sought the cooperation of compatriot Subaru in the development and production of the popular 86 sports car, which has a twin model in the Subaru stable called BRZ. First released to global markets in 2012, the 86 is already getting old, and it’s time for a successor.

That replacement is apparently in the works already as you read this. Toyota Motor Corporation has just announced its latest business and capital alliance with Subaru. Back in June, Toyota and Subaru revealed that they would be collaborating on future battery electric vehicles. Several months later and the two automotive players want the world to know that they are speeding into the future more closely attached to each other. This is to enable both companies to better adapt to the fast-changing landscape in the industry, where autonomous, electric and connected vehicles are becoming more and more prominent.

The nature of this new alliance is twofold:

1. In pursuit of making ever-better cars beyond that achieved thus far by Toyota and Subaru

* Bringing together both companies’ strengths to jointly develop all-wheel-drive models that offer the ultimate sensation in all-wheel driving

* Joint development of the next-generation 86 and BRZ

2. Expansion of the scope of partnership to survive this once-in-a-century period of profound transformation

* Following the Crosstrek Hybrid, expanding use of the Toyota Hybrid System in other Subaru models

* Cooperation in the domain of connected vehicles and technical collaboration in the field of autonomous driving

As a result of this new alliance, Toyota is acquiring Subaru shares that will give the former 20% voting rights in the latter. In return, Subaru is receiving Toyota shares equivalent to ¥80 billion (P38.8 billion).

This explains why Toyota president Akio Toyoda has recently been seen having a lot of fun with Subaru cars:

We don’t know about you, but we’re excited for this growing bond between Toyota and Subaru. We can only imagine all the cool cars that will be born out of this partnership. Let’s see what the immediate future holds for this corporate marriage.