Toyota and Suzuki to introduce Electric vehicles to the Indian market
Highlights:
- Toyota and Suzuki to introduce Electric vehicles to the Indian domestic market.
- Toyota will provide technical knowledge, and Suzuki would manufacture vehicles for the domestic market and supply some vehicles to Toyota for its marketing benefits.
Toyota and Suzuki to introduce Electric vehicles to the Indian market
The Japanese automaker, Toyota and Suzuki are working together to introduce Electric vehicles to the Indian market.
Currently, Suzuki has started testing the Wagon-R’s electric version of the vehicle on its own. Fifty such vehicles are being tested.
“Even though every component is perfectly made, a challenge still exists in the cost. Wagon-R electric version is priced at Rs 12 lakh, it is such an excessive price for the Indian market. This price won’t befit the individual buyers. But it may attract environment-conscious fleet operators,” said Managing Director, Kenichi Ayukawa to media.
In November 2017, the time period during which the idea “all-electric by 2030” was making the headlines, Toyota entered an agreement with Suzuki to manufacture battery-operated electric vehicles for the Indian domestic market. According to the Memorandum of Understanding (MoU), Toyota will provide technical knowledge, and Suzuki would manufacture vehicles for the domestic market and supply some vehicles to Toyota for its marketing benefits.
Shigeki Terashi, Executive Vice President, Toyota Motor Corporation, told media, “India is an evolving market for electric vehicles. Even we have contemplations introducing electric vehicles for the Indian market. Toyota is strong in Japan but has a little presence in the Indian market. Whereas Suzuki is very strong in India.
Our partnership soon will give a battery-operated electric vehicle to the Indian market. Since we are still working on the intricacies, the timeline of the vehicle unveils, or launch cannot be given.”
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