Since February 6, 2017, when Toyota and Suzuki concluded a memorandum toward business partnership, the two companies have been exploring concrete projects for collaboration in areas including environmental technology, safety technology, information technology, and the mutual supply of products and components. The November 2017 announcement of a memorandum of understanding between Toyota and Suzuki to consider a cooperative structure for introducing battery electric vehicles in the Indian market in around 2020 was one outcome of the joint exploration into the partnership. Today's announcement is another outcome and underscores the progress Toyota and Suzuki have together made, and it aims to bolster both companies' product line-ups and encourage competition in the Indian automotive market.

For the vehicle models covered by the basic agreement, the two companies will enhance their efforts to procure components locally to the extent possible toward the achievement of the "Make in India" initiative promoted by the Indian government. Toyota and Suzuki remain committed to the widespread acceptance and use of less fuel-consuming vehicles to help India reduce its environmental footprint and enhance energy security.

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