Toyota Motor Corporation and Suzuki Motor Corporation said on Friday that they will co-operate on introducing electric vehicles (EVs) in India by 2020
Japanese auto majors Toyota Motor Corporation and Suzuki Motor Corporation said on Friday that they will co-operate on introducing electric vehicles (EVs) in India by 2020. The two companies said in a joint statement that they have concluded a memorandum of understanding (MOU) to take forward a co-operative structure under which Suzuki will produce EVs for the Indian market and will supply some of them to Toyota, which will provide technical support.
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Besides, the statement said, they intend to conduct a comprehensive study of activities for widespread acceptance and popular use of EVs in India. "Such activities encompass the establishment of charging stations, human resources development that includes training for after-service technicians employed throughout sales
networks, and systems for the appropriate treatment of end-of-life batteries," it said. In February this year, the two companies had announced exploration of a business partnership after which they began discussing, among other topics, the dissemination of vehicle electrification technologies in India.
Suzuki has already announced that it intends to construct a lithium-ion battery plant along with its partners in Gujarat, where it currently operates a manufacturing plant
supplying automobiles exclusively to its Indian arm Maruti Suzuki. As per the agreement, in addition to lithium-ion batteries, electric motors and other major components would be locally procured for production of EVs in India.
The announcement by the two companies comes at a time when the Indian government is pushing for electric vehicles, setting a target of an all electric fleet by 2030.
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