The announcement comes after the Japanese companies agreed in February to trade expertise in parts supplies and research and development.
In what would be a major push towards making widespread use of electric vehicles in the country, Japan's Suzuki Motor Corporation (SMC) Friday said it has finalised an agreement with compatriot Toyota Motor Corporation (TMC) to introduce electric vehicles in India around 2020. Suzuki, in turn, is expected to gain from Toyota's innovations in automated driving, artificial intelligence and low-emission vehicles.
As per the understanding, Suzuki will produce electric vehicles for the Indian market, with technical support from Toyota.
In addition, both companies plan to incentivize the acceptance of electric vehicles in India by conducting studies on auto charging stations, training of technicians, and systems for the disposal of electric auto batteries.
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"Under the leadership of Prime Minister Narendra Modi, India is endeavouring to rapidly promote an automotive transition to EVs", Suzuki said.
Suzuki has only recently announced its decision to set up a lithium-ion battery manufacturing facility in Gujarat. Besides this, the systems that will be required for the proper disposal of batteries would also be looked into.
This seismic shift towards NEVs has prompted a flurry of electric vehicle deals and new launches as manufacturers worldwide race for a share of the world's largest auto market. Toyota also enjoys a decent market share and a strong brand equity in India.
Traditionally, Chinese joint venture partners have been exactly that - a joint partner sharing varying levels of the design and manufacture processes. The date for introduction for these vehicles is lated to be 2020.
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