Japan’s Suzuki Motor Corporation (SMC) Sunday said it will invest Rs 10,440 crore (approx 150 billion yen) for local manufacturing of electric vehicles (BEV) and BEV batteries.
Of this, Rs 3100 crore will be invested to increase manufacturing capacity for electric vehicles at Suzuki Motor Gujarat in 2025, Rs 7300 crore for setting up a plant for manufacturing batteries for electric vehicles in 2026. The remaining resources will be utilised to set up a vehicle recycling plant by Maruti Suzuki Toyotsu in 2025.
SMC signed a MoU with the State of Gujarat on 19 March 2022 at India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited were joined by eminent senior government personnel of India and Japan at the ceremony.
Speaking at the Forum, Toshihiro Suzuki said, “Suzuki's future mission is to achieve carbon neutrality with small cars.”
He added, “We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”