(Reuters) - Toyota Motor Corp (7203.T) will mutually supply cars in India with Suzuki Motor Corp (7269.T) starting in 2019, a move that would expand the Japanese company’s foothold in emerging markets, the Nikkei reported on Wednesday.
Suzuki, through its unit Maruti Suzuki India Ltd (MRTI.NS), will supply Toyota with 30,000 to 50,000 units of its Baleno and Vitara SUV cars annually, according to the Nikkei report (s.nikkei.com/2pIO0GX).
Toyota which holds only 3.5 percent of India’s vehicle market share, will provide Suzuki with around 10,000 units yearly of its Corolla in both hybrid and gasoline models, the Japanese business daily reported.
In November, the companies collaborated to sell electric vehicles in India from 2020, aiming to gain access in emerging markets and low-emission technology.
Toyota and Maruti were not immediately available for comment outside regular business hours.
Reporting by Jaslein Mahil in Bengaluru; Editing by Shounak Dasgupta