When Masamichi Kogai, the Mazda chief executive, appeared last year together with Akio Toyoda, his Toyota counterpart, the technology tie-up they announced seemed to offer the answer to how Japan’s fifth-largest carmaker would survive in the new era of electrification and self-driving vehicles.

Mazda sells 1.5m vehicles a year but is overshadowed both in size and innovation by Toyota, which in 2015 was the world’s largest carmaker, selling more than 10m units, and is a pioneer of both hybrid and fuel-cell technology.

Though the alliance is not backed by capital ties, industry watchers see it as a gateway for the sports car maker to join the sprawling Toyota family, which includes Daihatsu, Hino and Subaru-maker Fuji Heavy. This month, Suzuki said it may also explore a similar technology partnership with Toyota.