Toyota and Suzuki Conclude Memorandum on EV Introduction in India
Toyota City, Japan, Nov, 17 2017 - (JCN Newswire) - Toyota Motor Corporation and Suzuki Motor Corporation have concluded a memorandum of understanding (MOU) on moving forward in considering a cooperative structure for introducing electric vehicles (EVs) in the Indian market in around 2020. The agreement stems from the two companies having concluded on February 6 this year a MOU on beginning considerations for business partnership, after which they began discussing, among other topics, the dissemination of vehicle electrification technologies in India.
Specifically, Suzuki is to produce EVs for the Indian market and will supply some to Toyota, while Toyota is to provide technical support. Additionally, Toyota and Suzuki intend to conduct a comprehensive study of activities for the 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.
Under the leadership of Indian Prime Minister Narendra Modi, India is endeavoring to rapidly promote an automotive transition to EVs. Suzuki has already announced that it intends to construct a lithium-ion battery plant on the grounds of its recently opened automobile plant in the Indian state of Gujarat. As envisioned by the agreement, in addition to lithium-ion batteries, electric motors and other major components would be locally procured for the production of EVs in India, helping the Indian government fulfill its "Make in India" initiative, even in the field of EVs.
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Source: Toyota Motor Corporation
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