Bhargava even said that the partnership with suppliers in its early years contributed significantly to Maruti's success in India and also helped establish a supply chain for combustion engine cars.
Amid the growing demand for more technology in cars and a shift to 'greener' powertrains like electric and hybrid, the leading carmaker's chairman says automotive supply chains globally are changing and need large investments to keep pace.
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"If required somewhere, we will get into a joint venture," said Bhargava, adding, the firm is yet to identify specific areas for an alliance.
"We have done it in the past. Maruti built a very strong supply chain because we partnered vendors and have been working with them," he said.
Maruti Suzuki is currently facing stiff competition as buyers shift to bigger cars like sports-utility vehicles (SUVs) and regulators demand more safety features, that has pushed up costs.
Also, the carmaker's market share dropped to 43 percent from 50 per cent in past two years as its rivals have gained share in market.
Referring to to the small car market, and one with 'fancy gadgets' and SUVs, Bhargava said, "There are two markets in India now," adding, "We'll cater to both markets. I want that Maruti continues this leadership position."
With Reuters inputs.
