Toyota and Suzuki have agreed today to start discussing new joint projects – emanating from cooperation in India – in the fields of technological development, vehicle production and market development.
Having concluded a memorandum of understanding towards business partnership in February, the two companies have been pursuing concrete forms of cooperation and have announced the mutual supply of vehicles for the Indian market and other joint efforts.
The two companies have also been broadening the scope of their partnership considerations to include joint efforts related to production and market development.
- Toyota to provide Suzuki with technological support for its development of a compact, ultra-high-efficiency powertrain.
- Toyota Kirloskar Motor Private Ltd (TKM) to produce models developed by Suzuki for sale in India through both the Toyota and Suzuki brand networks.
- The supply of models developed by Suzuki, including those to be produced by TKM (as mentioned above), from India to Africa and other markets, by Toyota and Suzuki, employing both the Toyota and Suzuki sales networks to sell such vehicles, and advancing cooperation in the areas of logistics and services.
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 India's automotive society forward. This represents the spirit of "Let's do it" that I mentioned when announcing the conclusion of our memorandum of understanding on beginning concrete examinations for business partnership. Or, as I like to say, Suzuki is a company that puts being "The Best in Town" into practice.
"As members of Indian society, Toyota, along with Suzuki, will do its best to enhance freedom and fun in a future mobility society and to make "Made in India" vehicles cherished in Africa and many countries around the world.
"Breaking from a future that adheres to convention, Toyota has chosen a future in which the path is created by one's own hands. The spirit of "Let's do it" is necessary for this. Through our business partnership with Suzuki, I would like to learn more about this spirit."
Suzuki Chairman Osamu Suzuki said: "At the time we announced the partnership, I said: "Under the leadership of President Akio Toyoda, Toyota was enthusiastic throughout our discussions regarding the partnership sought by Suzuki, which was concerned with the development of advanced technologies. I want to express my heartfelt appreciation.
"Immediately afterwards, Toyota arranged a series of intensive and meaningful discussions.
"Now, we will receive support for the development of a compact, ultra-high-efficiency powertrain that is vital to Suzuki. We will focus our utmost efforts on development.
"It is my hope that new joint projects will contribute to the future success of both companies, not only in India, but also in the global market."