Toyota & Suzuki may form a JV for car manufacture

Japanese auto car makers Toyota Motor and Suzuki Motor Corporation may from a joint venture (JV) to make cars together and sell these in the name new entity

Toyota Motor and Suzuki Motor Corporation India plan to enter into JV to consider new projects in the field of technological advancements, vehicle production and market development .

These models will be sold through retail outlets of Toyota and Maruti Suzuki and also be exported to Africa. Toyota’s local entity has total capacity to produce 300,000 units, but it is running at 50% capacity utilisation.

Toyota’s India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti. These vehicles with undergo some changes and will be branded in the name of the company selling them.

The stock of Maruti Suzuki closed at Rs 8546, up by 1.63 per cent