Japanese automaker Suzuki Motor’s Indian unit, Maruti Suzuki, is set to produce its first electric vehicle (EV) for Toyota Motor, as announced on Wednesday. This collaboration marks a significant step in both companies’ efforts to expand their green vehicle offerings.
Production of the EV is scheduled to begin in spring 2025 at Maruti Suzuki’s plant in Gujarat, India. Following the announcement, Maruti Suzuki’s shares rose approximately four percent, reflecting positive market sentiment.
The EV platform was jointly developed by Suzuki, Toyota, and Daihatsu Motor, with Suzuki taking the lead in vehicle development. The model will be a sport utility vehicle equipped with a 60-kilowatt-hour battery, offering a range of 500 kilometers (311 miles).
Toyota President Koji Sato emphasized the importance of learning from each other’s strengths and competing in the EV market. While Suzuki and Toyota have previously collaborated on hybrid and combustion engine vehicles, this initiative represents their first foray into electric vehicles.
This partnership also reinforces India’s role as an EV hub for Suzuki, which plans to invest over a billion dollars in the country—its largest market outside Japan. Maruti Suzuki has indicated intentions to supply the new EV globally, including to its Japanese parent company and European markets.
As part of its EV strategy, Maruti Suzuki plans to add a fourth production line at its Gujarat facility, aimed specifically at producing 250,000 EV units annually. Toyota aims to launch 10 battery-powered vehicles by 2026 and, as of now, has sold just over 108,000 battery electric vehicles worldwide in the first nine months of the year, accounting for 1.5 percent of its total sales.
This collaboration is poised to enhance both companies’ positions in the growing electric vehicle market.
