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Toyota, Suzuki to discuss joint vehicle production
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SME Times News Bureau | 26 May, 2018
Automobile majors Toyota and Suzuki on Friday said they 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."
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