Toyota Motor Corp. and Suzuki Motor Corp. are deepening their business partnership, reported LiveMint, a move that'll help Suzuki’s unit, Maruti Suzuki India Ltd, solidify its position as the dominant carmaker in India.
The deepening of the ties is aimed at tapping into each other’s expertise to take on the dynamic market for automobiles, a person with direct knowledge of the matter told Mint.
As per the report, the companies are looking to expand their tie ups to areas such as manufacturing and sales practices, common service centers, royalty payments on models supplied to each other and alignment of their cultures.
However, the discussion for tie up does not include a discussion towards setting up an equity alliance between the two groups, the report said.
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