Toyota and Suzuki to Embark on Joint Vehicle Production

Automobile majors Toyota and Suzuki  would commence discussion on possible joint vehicle production.

According to a joint statement, the automobile giants "agreed to start discussing new joint projects in the fields of technological development, vehicle production, and market development".

"After having concluded a memorandum of understanding toward business partnership on February 6, 2017, Toyota and Suzuki have been pursuing concrete forms of cooperation and have announced the mutual supply of vehicles for the Indian market and other joint efforts," the statement said.

"Meanwhile, the two companies have also been broadening the scope of their partnership considerations to include joint efforts related to production and market development."

As per the statement, Toyota Motor Corporation and Suzuki Motor Corporation will discuss "Denso Corporation and Toyota to provide Suzuki with technological support for a compact, ultrahigh-efficiency powertrain to be developed by Suzuki" among other topics.

Commenting on the development Toyota President Akio Toyoda was quoted in the statement as saying: "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."

"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."

Suzuki Chairman Osamu Suzuki was quoted as saying: "Now, we will receive support for the development of a compact, ultrahigh-efficiency power-train that is vital to Suzuki, and we will focus our utmost efforts on development."

"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."