In 2017, February both the companies have made a decision to work together while on yesterday, the agreement has been signed to make the work in progress.
"Specifically, Suzuki is to produce EVs for the Indian market and will supply some to Toyota, while Toyota is to provide technical support".
Both Toyota and Suzuki will also conduct a detailed study for the acceptance and use of electric vehicles 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 offer was in the long run won by M&M and Tata Motors.
Suzuki CEO, Toshihiro Suzuki had earlier said that the Indian government's push towards electrification of vehicles had the potential to catch them unprepared. This includes concerns about the establishment of charging stations, human resources development that includes training for after-service technicians and systems for the appropriate treatment of burnt out batteries.
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The country's largest passenger vehicles maker Maruti Suzuki India (MSIL), which until now did not have technology to make electric vehicles (EVs), said it may launch a auto run on battery before 2020.
In a bid to shift to electric vehicles in India, Suzuki has already announced that it will set up a lithium-ion battery manufacturing plant in Gujarat.
According to reports from Japanese news organization Nikkei, Suzuki may team up with Toyota Motor and Mazda Technologies for the electric vehicle innovation.
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. The heads of Toyota and Suzuki are confident that this fact will have a positive impact on the process of promoting electric vehicles in this country.