Suzuki-Toyota partnership grows, Suzuki develops model to be manufactured by Toyota India from August 2022MARUTI - 8625 Change: -101.90 (-1.17 %)
News: Maruti Suzuki has informed exchanges about collaborative partnership between Suzuki Motors and Toyota, wherein the two companies will now start production of a new SUV model developed by Suzuki at Toyota Kirloskar Motor Pvt Ltd (TKM) from August 2022. Maruti Suzuki and TKM will market the new model in India as Suzuki and Toyota models respectively. The powertrains of the new model will be equipped with mild hybrid technology developed by Suzuki and strong hybrid tech developed by Toyota.
Views: The new model is likely to be name-plated Urban Cruiser Hyryder, which is to be first unveiled by Toyota. The two companies are planning to export the new model to markets outside India including Africa. This will help Maruti Suzuki address its adverse product mix issue (declining UV share in overall portfolio) and is a stepping stone towards regaining its 50% market share domestically.