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Toyota Motor Corporation (Toyota) and Suzuki Motor Corporation (Suzuki) have announced that both the Japanese companies have concluded a basic agreement to supply hybrid and other vehicles for the Indian market.
As per the agreement, Suzuki will supply the Baleno and Vitara Brezza models to Toyota, whereas Toyota will supply the Corolla model to Suzuki. Details such as the number of units, specifications, pricing and schedule will be decided at a later stage.
The cars will be retailed by Toyota and Suzuki's subsidiaries in India - Toyota Kirloskar Motor and Maruti Suzuki, through their respective sales network. Toyota and Suzuki aim to challenge each other with the goal of mutual improvement.
The latest agreement between Toyota and Suzuki will also help the companies to enhance their product portfolio in India. The agreement also states that both the companies will enhance efforts to source components locally to the extent possible, to achieve the "Make in India" initiative promoted by the government.
Toyota and Suzuki will also work on hybrid vehicles in India, to reduce the environmental footprint and enhance energy security.
The Japanese automakers first announced their partnership in February 2017 to explore environmental technology, safety technology, information technology, and the mutual supply of products and components.
In November 2017, both the companies announced a memorandum of understanding (MoU) to consider a cooperative structure for introducing battery electric vehicles in the Indian market in around 2020.
Thoughts On The Toyota-Suzuki Partnership
Toyota and Suzuki have announced their partnership to supply hybrid and other vehicles for the Indian market. Both the companies will compete with each other with an aim of mutual improvement. Toyota and Suzuki will also explore other projects to attain a sustainable mobile society.