Toyota and Suzuki look to boost hybrid presence via global tie-up
By Abigail Townsend
Date: Wednesday 20 Mar 2019
(Sharecast News) - Japan's Toyota Motor Corporate and Suzuki Motor Corporation have unveiled plans for a wide-ranging collaboration, including jointly producing electric vehicles.
The two car manufacturers first agreed a tie-up in 2017, but on Wednesday confirmed further details of the global partnership
Under the deal, both sides will work together to increase their presences in the fast-growing Indian market. Suzuki will also source the hybrid systems it uses in its cars from Toyota, which has long led the market with the Prius.
Toyota, meanwhile, will produce electrified cars under the Suzuki badge for the European market based on two Toyota platforms, the RAV4 SUV and Corolla estate. The latter will be produced at Toyota's Burnaston plant in Derbyshire, with production due to start late next year.
Akio Toyoda, president of Toyota, said hybrid technologies were expected to play a "huge role" in vehicle electrification in a number of markets.
He continued: "Through our new agreement, we look forward to the wider use of hybrid technologies, not only in India and Europe but around the world. At the same time, we believe that the expansion of our business partnership with Suzuki - from the mutual supply of vehicles and powertrains to the domains of development and production - will help gives us the competitive edge we will need to survive this once-in-a-century period of profound transformation."
Osamu Suzuki, chairman of Suzuki, added: "We appreciate the kind offer from Toyota to let us make use of their hybrid technology. We will continue our utmost efforts."
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