Toyota and Suzuki have sealed the memorandum regarding the introduction of electric vehicles on the Indian market by 2020, through a common structure.
Early in February, the two companies have initiated the talks related to a potential partnership in terms of becoming a member of the Indian market, by introducing new electric vehicles and related technologies on a wide scale.
The talks between the two companies were finalized, and the memorandum signed this month symbolizes the beginning of a very profitable collaboration, the term being 2020.
Under the agreement, Suzuki will supply its own electric vehicles and the vehicles produced by Toyota for the Indian market, while Toyota will also be in charge of the role of providing technical support.
In addition, Toyota and Suzuki are planning to come with a study on the availability of using electric vehicles in this country and what the requirements are for making them so popular.