Suzuki and Toyota have signed an MoU to jointly make EVs for the Indian market.
Japanese automakers Toyota and Suzuki have signed a MoU (Memorandum of Understanding) based on the previous agreement signed earlier this year. The terms of the MoU state that Suzuki will make EVs for the Indian market and supply some to Toyota while the latter will provide the technical support for making the EVs. Both the Japanese automakers have planned to do a comprehensive study for the extensive acceptance and use of EVs in the country.
The Government’s ambitious plans of making India an all-electric car nation is set to get a boost as Suzuki has already announced that it will build a lithium-ion battery factory in Gujarat. Suzuki has planned to invest $180 million (approximately Rs. 1150 crores) along with Toshiba and Denso (a Toyota company) to set up the lithium-ion battery factory. Denso will provide the technology while Toshiba will contribute with cell modules.
The partnership will also look at procuring all the components locally like the battery pack, electric motors and other essential parts. The alliance will help both the carmakers to be better prepared to handle the hurdles that come along the way as India attempts to go all-electric by 2030.
Suzuki Toyota EVs
– EVs under the partnership will be introduced by 2020
– Suzuki’s plant at Gujarat will be used to the make the EVs
– Toyota to provide technical support to develop the EVs
