Maruti Suzuki board approves supply of SUV Vitara Brezza to Toyota; move to result in incremental sales

In pursuance to the same, in March last year, Maruti board approved the supply of a product derivative of Baleno to Toyota Kirloskar, which currently sells the product as Glanza.

Press Trust of India May 13, 2020 19:35:15 IST
Maruti Suzuki board approves supply of SUV Vitara Brezza to Toyota; move to result in incremental sales

New Delhi: Maruti Suzuki India (MSI) on Wednesday said its board has approved supply of a derivative of compact SUV Vitara Brezza to Toyota Kirloskar Motor which will then sell the vehicle under its own brand name.

Maruti Suzuki board approves supply of SUV Vitara Brezza to Toyota move to result in incremental sales

Representational image. Reuters

This will result in incremental sales for the company, MSI said in a regulatory filing.

Toyota and Suzuki had executed a memorandum of understanding on February 6, 2017 to begin concrete examination towards realisation of business partnership in areas including environmental technologies, safety technologies, information technologies, and mutual supply of products and components.

In pursuance to the same, in March last year, Maruti board approved the supply of a product derivative of Baleno to Toyota Kirloskar, which currently sells the product as Glanza.

In March 2018, Toyota and Suzuki concluded a basic agreement for supplying hybrid and other vehicles to each other in the Indian market.

As per the agreement, Suzuki were to supply premium hatchback Baleno and Vitara Brezza to Toyota, while Toyota had to provide Corolla sedan to Suzuki.

In a separate filing, the company said its board has approved acquisition of 39.13 percent stake from Sumitomo Corporation, Japan and 10 percent stake from Sumitomo Corporation India held in J.J Impex (Delhi) Pvt Ltd.

Updated Date:

also read

MSI GF63 Thin: With new RTX GPUs and upgradeable interiors in a slick chassis, MSI’s new laptops have something for gamers and content creators alike
Tech

MSI GF63 Thin: With new RTX GPUs and upgradeable interiors in a slick chassis, MSI’s new laptops have something for gamers and content creators alike

Unlike most gaming laptops, the GF63 Thin is subtle and elegant in design, and aims to deliver a tonne of power, but not at the cost of noise and battery life. This is a gaming laptop, but one that’s meant for more than just gaming.

Maruti Suzuki hikes prices across its passenger vehicle range by up to 1.9 percent
News & Analysis

Maruti Suzuki hikes prices across its passenger vehicle range by up to 1.9 percent

This price rise is the third such hike Maruti Suzuki has rolled out in 2021 – the carmaker earlier raised prices in January and April this year.