Two to tango: Maruti’s board okays deal with Toyota, MD’s term extended
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The Board of Maruti Suzuki has approved plans to source hybrid technology from Toyota for developing future products under a business partnership signed by both the companies. Further the board also approved the reappointment of managing director and CEO Kenichi Ayukawa for a further period of three years with effect from April, 1, 2019.
With this extension, Ayukawa will become the longest serving MD and CEO of Maruti Suzuki after being appointed first in 2013.
Besides, the board has also given its nod to source its compact SUV Brezza from Toyota, without making any investment. Starting 2022, Brezza will be produced at an existing Toyota plant and variants of the model will be sold through sales network of the Maruti and Toyota, respectively. Brezza will be the second model after Baleno, which Toyota will sell. Supply of a derivative model of Baleno to Toyota also received the Board’s go-ahead.
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