Toyota-Suzuki widen tie-up to address global markets

NEW DELHI: Japanese auto giant Toyota and compatriot Suzuki — which controls India’s largest carmaker Maruti — on Friday announced widening of their partnership, promising joint development and production of vehicles for sale in India, Africa and other global markets. The two companies had come out in March this year with an ambitious cross-badging arrangement for Maruti’s Baleno hatch and Vitara mini SUV and Toyota’s Corolla sedan.

 

“As members of Indian society, Toyota, along with Suzuki, will do its best to enhance freedom and fun in a future society of mobility and to make ‘Make in India’ vehicles cherished in Africa and in many other countries around the world,” Toyota president Akio Toyoda said in a statement.

 

As part of the enlarged agreement, Toyota’s Indian joint venture — Toyota Kirloskar Motor — will produce models developed by Suzuki for sale in India through individual sales networks of the two companies. Also, the models developed by Suzuki will be exported to Africa and other markets by the companies.

 

“Suzuki was the first (among Japanese companies) to enter India and, together with the people of India, has been pulling forward India’s automotive society. Such represents the spirit of ‘let’s do it’. Suzuki is a company that puts into practice being ‘the best in town’,” Toyoda further said.

 

Suzuki chairman Osamu Suzuki said the enhanced partnership will help companies target global markets effectively. “It is my hope that the new joint projects will contribute to the future success of both companies, not only in India, but also in the global market.” The partnership will also see the them work on electric vehicles (EVs) and allied technologies.

 

Source:- The Times of India