Toyota and Suzuki Suzuki have
concluded a basic agreement toward the mutual supply of hybrid and other
vehicles between the two companies for the Indian market.
Since February 6, 2017, when
Toyota and Suzuki concluded a memorandum toward business partnership, the two
companies have been exploring concrete projects for collaboration in areas
including environmental technology, safety technology, information technology,
and the mutual supply of products and components. The November 2017
announcement of a memorandum of understanding between Toyota and Suzuki to consider
a cooperative structure for introducing battery electric vehicles in the Indian
market in around 2020 was one outcome of the joint exploration into the
The latest announcement is
another outcome and underscores the progress Toyota and Suzuki have together
made, and it aims to bolster both companies’ product lineups and encourage
competition in the Indian automotive market.
Specifically, by challenging
and competing with each other with the goal of mutual improvement, Toyota and
Suzuki aim to invigorate the Indian automotive market to further enhance their
respective products and services to be offered to customers.
For the vehicle models covered
by the basic agreement, the two companies will enhance their efforts to procure
components locally to the extent possible toward the achievement of the “Make
in India” initiative promoted by the Indian government. Toyota and Suzuki
remain committed to the widespread acceptance and use of less fuel-consuming
vehicles to help India reduce its environmental footprint and enhance energy
security, a press release issued by the companies said.
Pursuant to the agreement
announced on February 6, 2017, the two companies will continue to explore other
collaborative projects that will contribute to the attainment of a sustainable
mobile society in a manner that ensures fair and free competition.