Toyota Motor Corporation (Toyota) and Suzuki Motor Corporation (Suzuki) on Friday said they have agreed to start discussing new joint projects in the fields of technological development, vehicle production, and market development.

Some of the salient points of agreement include Denso Corporation and Toyota to provide Suzuki with technological support for a compact, ultrahigh-efficiency powertrain to be developed by Suzuki.

Toyota Kirloskar Motor Private (TKM) will produce models developed by Suzuki for sale in India through each of the Toyota and Suzuki brand network.

And products developed by Suzuki, including those to be produced by TKM, will be exported from India to African and other markets by Toyota and Suzuki, the companies said in a statement.

Both the companies will be employing each of the Toyota and Suzuki sales networks to sell such vehicles, and advancing cooperation in the domains of logistics and services.

“Details related to the above are to be discussed going forward,” they said.

Commenting on the development, Osamu Suzuki, Chairman, Suzuki Motor Corporation, Japan, said, “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.”

Under the leadership of President Akio Toyoda, Toyota was enthusiastic throughout the discussions regarding partnership sought by Suzuki, which was concerned about the development of advanced technologies, he said.

“Now, we will receive support for the development of a compact, ultrahigh-efficiency powertrain that is vital to Suzuki, and we will focus our utmost efforts on development,” Suzuki added.

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.

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 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,”Toyoda said.

Breaking from a future that adheres to convention, Toyota has chosen a future in which the path is created by one’s own hands, he said.

“For this, the spirit of ‘Let’s do it’ is necessary. Through our business partnership with Suzuki, I would like to learn more about this spirit,” he added.

According to experts tracking the auto industry, the partnership will bring many avenues to the auto industry in India, and being an export hub, the country will gain many accolades from worldover in future.

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