Suzuki Motor Corp. is considering joining an electric vehicle development company recently set up by Toyota Motor Corp. and Mazda Motor Corp., people familiar with the matter said Saturday.
The auto and motorcycle maker, which has a major presence in the booming Indian market, has been lagging behind in developing next-generation vehicles to meet tightening emissions standards around the world.
The new company EV C.A. Spirit Co. based in Nagoya will develop the framework of car bodies and control systems. Denso Corp., Toyota’s automotive parts-making affiliate, also invested in the joint firm, which is open to participation of other auto and auto parts makers.
Toyota and Suzuki agreed in February to start talks for a business partnership in areas such as environmental, safety and information technologies.