Prior this month, Toshihiro Suzuki, CEO of Suzuki Motor Corporation and a chief on the leading body of Maruti Suzuki, in Japan voiced his dread in regards to the antagonistic effect the presentation of electric vehicles and absence of innovative ability will have on the fortune of the Indian subsidiary.
Japanese vehicle makers Toyota and rival Suzuki on Friday announced their plans to launch their first electric auto together by 2020.
The agreement was a result of the two auto manufacturing giants having concluded on February 6, this year, a MoU on beginning considerations for a business partnership, after which discussions began, among other topics, the dissemination of vehicle electrification technologies in India.
According to the joint statement, Suzuki will be tasked under the MoU to produce EVs for the Indian market and will supply some to Toyota, while Toyota is to provide technical support.More news: New York Giants vs. Kansas City Chiefs: Breaking down Sunday's game
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Both the companies also plan a comprehensive study on charging stations, training for sales network staff members, and treatment of batteries, Suzuki said in a statement. In addition, electric motors and other major components will be locally procured for the production of EVs in India.
Traditionally, Chinese joint venture partners have been exactly that - a joint partner sharing varying levels of the design and manufacture processes. An agreement on bilateral cooperation signed by Toyota and Suzuki addressed the development of automotive safety systems. In September this year, Toyota Kirloskar Motor (TKM) had disclosed that it has for now no plans to introduce EV models in India.
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The MoU aims to work together to solve the grave issue of pollution ensuring smooth introduction of plug-in hybrid and electric vehicles in the State.