Maruti Suzuki and Toyota Kirloskar Motors had signed an agreement in March 2018. According to this agreement, both the companies will share their vehicles and technology as well. The Toyota rebadged Baleno is the one of first vehicles to be launched by the joint ventures of both the companies. The Toyota rebadged Baleno is likely to be launched in the Indian market sometime during the next year. Toyota rebadged Baleno premium hatchback will be equipped by the unique features from Toyota.
As per the agreement between the Maruti Suzuki India and the Toyota Kirloskar Motors, Maruti Suzuki will provide Toyota with their Baleno and Vitera Brezza offerings while Toyota will offer the Corolla Altis sedan to Maruti Suzuki. Together with the sharing of vehicles along with hybrid and other technologies by the Maruti Suzuki and the Toyota Kirloskar Motors, both the automakers are working on developing technologies in the electric vehicle segment, planning to set-up a battery plant for EVs in India. The upcoming electric vehicle based on WagonR, which is going to be the first EV from Maruti Suzuki will be powered by the battery plant. The first EV from Maruti – the electric WagonR is expected to be launched in 2020.
According to PTI, a source stated, “In the second half of next fiscal, Toyota will launch its version of Baleno. There will be external tweaks for a different look but it will be more like the existing one.”
Atsushi Oki, Vice President, TKM, stated, “Under the Toyota-Suzuki tie-up, each company will sell mutually supplied vehicles under their own respective brands and nameplates. Beyond that, at this point in time, we are not in a position to discuss further details such as vehicle specifications of our future product plans.”
In terms of pricing of the Toyota re-badged Baleno hatchback, Atsushi Oki further stated, “We understand the price sensitivity of the Indian market. We will continue to keep up the price momentum in these directions. At this point in time, details on pricing are under discussion.” Moreover, in order to help achieve cost effectiveness in the country’s market, Toyota is supporting the ‘Make In India’ campaign.