Two Japanese auto giants – Toyota-Suzuki – have inked a MoU to launch electric cars in India by the year 2020. According to the MoU, both companies will strive to improve vehicle electrification technologies in the country.
The MoU also states that Suzuki will produce the cars and supply some of them to Toyota. Toyota’s role will be to provide technical support.
Suzuki’s newly opened lithium-ion battery plant in Gujarat will also play a major role in this entire operation. In addition to lithium-ion batteries, electric motors and other major components would be locally procured for the production of EVs in India.
Since the Indian government wants electric cars on the road by 2030, most automobile companies are prioritizing them by 2020 so that they have a healthy portfolio by 2030.