Toyota and Suzuki to jointly supply cars to the fast-growing Indian market from 2019.
The automakers' partnership will see Indian market leader Maruti Suzuki India supplying Toyota with 30,000 to 50,000 units annually of its compact Baleno and Vitara sport utility vehicle.
A further boost for Maruti Suzuki Image: BRD Carworld
In return, the Japan-based manufacturer will provide Suzuki with around 10,000 units yearly of its Corolla in both hybrid and gasoline specification.
The two companies began discussions about the partnership in 2016, as previously reported by OATS. Toyota's Indian market share of 3.5% falls far short of Suzuki's 40%, so Toyota is hoping to improve its sales and increase local factory operation rates.
With New Delhi's target of EVs making up 30% of the Indian fleet by 2030, the two companies are also co-operating on producing environmentally friendly cars. Suzuki will use hybrids from Toyota to expand offerings of green cars. They both plan to release jointly developed electric vehicles in India around 2020.