The Suzuki-Toyota tie-up for electric cars signals that India's auto industry is set for a wave of disruption as carmakers heed a govt warning on petrol and diesel cars. Photo: Pradeep Gaur/MintMumbai: Japanese carmakers Toyota Motor Corp. and Suzuki Motor Corp. on Friday signed an in-principle agreement to consider a joint structure for the introduction of electric cars in India in 2020. Under the agreement, Suzuki will manufacture electric cars for India and supply some units to Toyota with technical support from the latter, said a statement by Suzuki, the parent of India’s largest carmaker Maruti Suzuki India Ltd. This would control costs, a deal-breaker for electric vehicles at the moment. The lithium-ion battery accounts for almost 50% of an electric car's cost; its high cost is a factor discouraging other manufacturers from taking the EV route.

Source: Mint November 17, 2017 15:11 UTC