Maruti Suzuki, Tata Motors, Mahindra Electric, Mahindra & Mahindra, and Ford were jointly working on the project.
Suzuki Motor Corporation‘s India outfit Maruti Suzuki which has a 50 per cent share in the domestic passenger vehicle market, will become the biggest beneficiary of this mega deal.
The company, which operates in India through a joint venture with the Kirloskar group, was among the worst hit by the Supreme Court ban on diesel cars and SUVs with engines of 2,000 cc and above in Delhi-NCR that lasted for eight months since December last year.
Toyota Motor Corporation was the first company to start local production of hybrid cars here with the Camry Hybrid in August 2013. The Camry diesel is also sold here.
2011 has been a rocky year for Japan and its auto sector. But the Tokyo Motor Show didn't disappoint. There were 176 exhibitors from 12 countries. That's more than last year. And the theme of the show was green technology, reports CNBC-TV18’s Swati Khandelwal Jain.