Suzuki, Toyota ink pact to make electric cars in India
Indian govt plans to shift to an all-electric vehicle fleet by 2030 Latest news : Japanese auto majors Toyota and Suzuki will work together on the introduction of electric vehicles in India-- the fifth largest car market-- by 2020. Suzuki, which enjoys a 50 per cent market share in the domestic passenger vehicle segment through its subsidiary Maruti, has decided to produce electric vehicles in the wake of a clear mandate from the government seeking a shift to green mobility. Both the Japanese companies inked a partnership deal in early February this year. A memorandum of understanding (MoU) was signed to this end. Now, the two auto majors have concluded another MOU on considering a cooperative structure for the introduction of electric vehicles (EVs) in the Indian market in or around 2020, a statement said. Suzuki will produce EVs for the Indian market and will supply some to Toyota, while Toyota is to provide technical support. Additionally, Toyota and Suzu...