OEMs Toyota and Suzuki have agreed to discuss potential collaboration on future technological development, vehicle production and market development projects.
Following a memorandum of understanding for business partnership being signed in February 2017, Toyota and Suzuki have been pursuing concrete forms of cooperation and have since announced the mutual supply of vehicles for the Indian market.
Meanwhile, the two companies have also been broadening the scope of their partnership considerations to include joint efforts related to production and market development.
Toyota president Akio Toyoda said, “Suzuki was the first (among Japanese companies) to enter India, and, together with the people of India, has been a presence for pulling forward India’s automotive society.
“Breaking from a future that adheres to convention, Toyota has chosen a future in which the path is created by one’s own hands. For this, the spirit of ‘Let’s do it’ is necessary. Through our business partnership with Suzuki, I would like to learn more about this spirit.”
During discussions, the companies will look at Denso Corporation and Toyota providing Suzuki with technological support for a compact, ultra-high-efficiency powertrain to be developed by Suzuki, as well as the production of Suzuki-developed models for sale in India by Toyota Kirloskar Motor.
The companies will also discuss the supply of models developed by Suzuki from India to African and other markets by Toyota and Suzuki, as well as the employment of the Toyota and Suzuki sales networks to sell such vehicles.
“Now, we will receive support for the development of a compact, ultra-high-efficiency powertrain that is vital to Suzuki, and we will focus our utmost efforts on development, added Osamu Suzuki, chairman at Suzuki. “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.”