Toyota Motor Corp and Suzuki Motor Corp agreed on Thursday to produce cars for each other in India as Toyota aims to increase its market share in the world’s fifth-largest passenger car market. The agreement follows an R&D tie-up announced by the two Japanese automakers a year ago and will see Toyota, one of the world’s biggest automakers, secure production from its much smaller rival, which dominates India with its line-up of affordable compact cars.
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SOURCE: Times Now News
