Toyota takes stake in Suzuki Motor for $908M

Toyota Motor is taking a stake in rival Japanese automaker Suzuki Motor.

Toyota is spending more than $900 million for a 4.9 percent stake.

The move comes three years after the two companies started to consider a partnership.

The automaker's partnership will concentrate on developing technologies for autonomous driving, according to the Wall Street Journal.

In June, Toyota announced it would increase its focus on electric vehicles.

Suzuki tied up with Volkswagen in 2009, but that deal eventually ended and the partnership was dissolved.