New Delhi: The board of Maruti Suzuki India Ltd, the country’s largest passenger vehicle maker by market share, on Wednesday appointed Kenichi Ayukawa as its managing director and chief executive officer for the third straight term.
The board of the Delhi-based company also approved certain aspects of memorandum of understanding (MoU) between its parent company Suzuki Motor Corp. and Toyota Motor Corp., including the supply of Toyota Hybrid System to the company, besides the manufacturing of Vitara Brezza at Toyota’s plant in Bengaluru, and supply of other products to Toyota’s Indian subsidiary.
Ayukawa took charge of Maruti Suzuki in 2013, when it was reeling with labour-related crises and loss of volumes due to the increase in diesel vehicle sales across the country.
He also oversaw the transition of Maruti Suzuki from a small compact hatchback manufacturer to the opening of the Nexa chain of premium dealerships, wherein cars such as the Baleno (a hatchback), Ciaz (a mid-size sedan) and S-Cross (a crossover), are being sold.
Under Ayukawa, the company also improved its financials significantly, with the stock touching the ₹10,000 mark. Maruti also re-captured 50% market share in India during this time.
Earlier this month, Suzuki and Toyota had said that they were expanding their India-centred collaboration to markets in Africa and Europe.
Under the partnership, Suzuki will supply its Ciaz mid-size sedan and Ertiga minivan to Toyota’s unit in India. Toyota will share its "Toyota Hybrid System" with Suzuki for joint development of hybrid vehicles in India and other markets. Toyota and its unit, Denso Corp., will meanwhile work with Suzuki to adopt the newly developed Suzuki engines for compact vehicles.
The engines will be manufactured at Toyota’s plant in Poland. Models such as the Baleno, Ciaz, Vitara Brezza and Swift will be exported by Suzuki to Toyota’s subsidiaries in Africa, where they will be retailed by the latter under the Suzuki brand.