Published: Sat, November 18, 2017
Business | By Max Garcia

Toyota and Suzuki in tie-up to sell electric vehicles in India

Toyota and Suzuki in tie-up to sell electric vehicles in India

The tie-up is going to help the Indian Subsidiary Maruti Suzuki motor.

The newly signed MoU is based on the agreement to form a partnership in India which was signed in February 2017. The firms said they meant to conduct a comprehensive study of activities for ensuring widespread acceptance and popular use of EVs in India. Indian government has even reduced the tax on electric vehicles from 29% to 12% giving an impetus to manufacturers to produce electric vehicles domestically.

The activities "encompass the establishment of charging stations, human resources development that includes training for after-service technicians employed throughout [the] sales networks and systems for the appropriate treatment of end-of-life batteries." the companies said.

Global automobile majors Toyota Motor Corporation and Suzuki Motor Corporation will join hands to produce electric vehicles (EVs) for the India market by 2020. Likewise, trying to venture out assembling electric vehicles in India, Suzuki Motor Corp in a joint wander with Toshiba Corporation and Denso declared its intends to set up a plant in Gujarat to make lithium-ion battery - the most critical and costly part of an electric vehicle. In addition, electric motors and other major components will be locally procured for the production of EVs in India.

This seismic shift to NEVs has triggered a flurry of electric vehicle deals and new launches as makers globally race for a share of the world's biggest automobile market.

The government of India has recently announced its ambitious plan that sees the country using only electric vehicles by 2030.

Aside from the all-electric battery vehicle models developed by its regional joint ventures, Toyota likewise plans to release an EV model, created in Japan, in China in 2020.

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