Tokyo, Oct 22: Suzuki Motor Corp. (SMC) of Japan today announced that it would collaborate with its Indian arm Maruti Udyog (MUL) to develop new cars for India and global markets. "We will collaborate with MUL to develop cars for the world markets. Such cars will be popular for Indian markets," SMC supremo Osamu Suzuki told Indian journalists at the preview of the Tokyo motor show, which will take off on October 25.
Dubbing MUL as SMC's most important overseas ventures, Suzuki, who visited India twice this year to flag off the public issue where the Indian government divested its 25 per cent equity, said SMC would also develop and sell motorcycles in India in the popular segments.
SMC is slated to start a new motorcycle venture in India, beginning 2005 with an initial investment of USD 10 million.
Asked about his feelings after acquiring majority control of MUL, the market leader having 54 per cent share in the Indian market, Suzuki said, "We do not have major concerns for the rest of the shares. We have respect for the owners of the remaining 46 per cent share in MUL."
He, however, declined to comment on the divestment of remaining (about 18 per cent) government equity in MUL saying "go and ask the government about it".
Earlier, Suzuki unveiled six concept vehicles, including two in collaboration with the world's largest auto maker General Motors, aimed at further cementing its leadership in the small car category.
Bureau Report