TOKYO, Japan — Japan’s Toyota Motor Corp and Suzuki Motor Corp said they plan to explore a possible partnership, citing technological challenges and the need to keep up with consolidation in the global auto industry.

Toyota invests heavily in research and development (R&D) for automated driving functions and artificial intelligence for mobility purposes, while cost-conscious Suzuki, which specialises in affordable compact cars, has yet to announce major strategic plans on how to compete in new automotive technologies.

Both companies said that they had just begun discussing possible cooperation, so nothing was decided about areas in which they might collaborate.

However, Suzuki chairman Osamu Suzuki said his firm was struggling to keep pace with the breakneck speed of R&D, telling a news conference, “R&D in the auto industry is changing rapidly. The future looks perilous.”

A partnership between Toyota and Suzuki would be the latest in an increasingly consolidating auto industry. Nissan Motor Co in May announced it was planning to take a controlling stake in embattled Mitsubishi Motors Corp.