India's largest car maker Maruti Suzuki has decided to source its mini SUV Brezza from Toyota as part of its 2017 MoU which has been expanded to include joint production, sources said.
Brezza, a sub-four metre urban SUV, will be manufactured in one of the two factories of Toyota Kirloskar Motors from 2022. As per the plans, Toyota, too, would sell Brezza after making some modifications.
This will be the second model after Maruti Suzuki's Baleno which Toyota would start selling from later this year.
Maruti Suzuki's board gave its approval for sourcing Brezza from Toyota as part of its MoU in February 2017 which was expanded last week.
The expanded partnership includes joint production, promotion of electrified vehicles, sharing of engines, among others. The MoU is aimed at technology partnership in environment, safety and information, and mutually supplying products and components.
Maruti Suzuki has decided to continue being the sole manufacturer of Baleno, a derivative of which will be sold by Toyota Kirloskar to increase the total sales for the company.
The board also approved a three-year extension of its Managing Director and CEO Kenichi Ayukawa from April 1, 2019.
"We hereby intimate that the board approved the following the reappointment of Kenichi Ayukawa as Managing Director and CEO of the company for a period of three years with effect from April 1, 2019 on the existing terms and conditions including remuneration," the company said in a statement.
--IANS
mg/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
