Automakers Toyota Motor Corp and Suzuki Motor Corp on Friday said the companies had agreed on joint projects for technological developments, vehicle production and market development.

The companies had signed a memorandum of understanding (MoU) toward business partnership on February 6, 2017, and since then they have announced the mutual supply of vehicles for the Indian market as well as other joint efforts.

Under the joint projects by the two auto-makers, Denso Corp and Toyota are to provide Suzuki with technological support for a compact, ultra-high efficiency power train, which is to be developed by Suzuki, the statement said.

Supply of models which are developed by Suzuki, including the models produced by Toyota Kirloskar Motor Pvt Ltd, will be marketed in India to Africa and other markets by Toyota and Suzuki.

The companies will employ sale networks to sell such vehicles and advance cooperation in the domains of logistics and services.

First Published:May 25, 2018 1:54 PM IST