Maruti Udyog said on Tuesday it would set up a new joint venture company to make components for Suzuki motorcycles and cars in India.
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A Maruti spokesman told Reuters the joint venture, which would also involve a Japanese firm and an Indian manufacturer, would make sheet metal and chassis, as well as other components for Maruti’s cars and Suzuki Motorcycles India.
The news agency said a local media report had said the venture would involve Japan’s Bellsonica and that Maruti would own 30% of the venture, which would have an initial capital outlay of INR120m.
Maruti has deals with several components makers in India, and owns a minor equity stake in some, Reuters noted.
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