Toyota will acquire a stake of about five per cent in Suzuki for nearly 900 million dollars. Suzuki will put about 450 million dollars of its own money into Toyota.
The auto industry has witnessed 2.15 lakh job losses due to the slowdown. Nearly 300 dealership outlets have vanished, resulting in two lakh people losing jobs. Another 15,000 job losses have been reported by original equipment manufacturers (OEMs), SIAM said.
The South Korea auto giant is set to roll out another variant of i10 and is already generating enough curiosity among car lovers.