Toyota and Suzuki revealed plans to collaborate for the developed of latest technology, production of vehicles, and market development, as announced on May 29, 2018.
The two major players operating in the global automobile industry are planning to provide a joint supply of vehicles for sales in the market in India. Suzuki Motors Corporation, the Japan-based multinational automobile company, was one among the first few companies to enter the Indian automotive market. The company has contributed significantly to the development and widespread growth of automotive technology in India.
The two companies are expected to discuss on various topics such as how to distribute the technical and manufacturing of products jointly by realizing the full potential of both the companies. Toyota will be providing technical support for Suzuki’s compact, ultra-high-efficiency powertrain and for all models developed by Suzuki yet produced by Toyota Kirloskar Motor Private Ltd for markets in India, Africa, and other emerging economies.
Toyota President Akio Toyoda said, “As members of the Indian society, Toyota, along with Suzuki, will do its best to enhance freedom and fun in a future mobility society and to make ‘Made in India’ vehicles cherished in Africa and many countries around the world.”
Various sessions of similar discussions were being conducted between the two automotive giants since February 2017, following their agreement on a memorandum of understanding towards business partnership. These discussions are now being made public, in anticipation of a closed deal in the near future.