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Toyota Motor Corporation and Suzuki Motor Corporation have concluded a Memorandum of understanding (MoU), to introduce electric vehicles in India around 2020.
According to the agreement, Suzuki will manufacture electric vehicles for the Indian market and will also supply some vehicles to Toyota, while Toyota will be providing technical support.
The companies in a joint statement stated, “Toyota Motor Corporation (TMC) and Suzuki Motor Corporation (SMC) have concluded a memorandum of understanding on moving forward in considering a cooperative structure for introducing electric vehicles in the Indian market in around 2020.”
