Suzuki to invest ₹10,445 crore for local manufacturing of electric vehicles, batteries in Gujarat
2 years, 11 months ago

Suzuki to invest ₹10,445 crore for local manufacturing of electric vehicles, batteries in Gujarat

The Hindu  

Japanese automobile major Suzuki Motor Corporation on Sunday said it would invest about 150 billion yen by 2026 for local manufacturing of electric vehicles and BEV batteries, in Gujarat. ‘Self-reliant India’ “Suzuki's future mission is to achieve carbon neutrality with small cars,” Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation, said, adding that the company would continue active investment in India to “realise self-reliant India ”. As part of the MoU, Suzuki Motor Gujarat, which is a wholly owned subsidiary of the SMC, will invest ₹3,100 crore by 2025 for increasing production capacity for BEV manufacturing and ₹7,300 crore by 2026 for construction of plant for BEV batteries. Additionally, Maruti Suzuki Toyotsu India — a joint venture between Maruti Suzuki India and Japan-based Toyota Tsusho Group, will invest ₹45 crore for construction of vehicle recycling plant by 2025.

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