- Japan’s Suzuki to invest $1.4 BN in India to boost EV infrastructure
Suzuki signs MOU with the state of Gujarat for electric vehicle and battery manufacturing in India, to invest 150 Billion Yen towards carbon neutrality.
Suzuki Motor Corporation (SMC) signed MOU with the state of Gujarat, India to invest approximately 150billion Yen (approximately 104.4 billion Rupees) for local manufacturing of electric vehicles (BEV) and BEV Batteries.
the MOU Was signed on 19 March 2022 at Indian-japan Economic Forum held in New Delhi, India. In the presence of Japanese prime minister Mr. Fumio Kishida and Indian Prime minister Narendra Modi Ji.
Mr. Toshihir Suzuki, Representative Director and President, Suzuki Motor Corporation, and Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki Indian limited were joined by eminent senior government personnel of Indian and japan at the ceremony.
Speaking at the forum, Mr. Toshihiro Suzuki Said, ” Suzuki’s future mission is to achieve carbon neutrality with small cars”.
Further, he added,” we will continue active investment in India to realize self-reliant India (atman-Nirbhar-Bharat).”
Highlights of the MOU
|Sr. No.||Signs of MOU With the state of Gujrat||Description||Investment||Planned Year|
|1.||Suzuki Motor Gujarat Pvt Ltd. (SMG)||Increasing production capacity for BEV manufacturing||31 Billion Rupees||2025|
|2.||Construction of the plant for BEV Batteries (land neighboring to SMG)||73 Billion Rupees||2026|
|3.||Maruti Suzuki Toyotasu India Pvt Ltd (MSTI)||Construction of vehicle recycle plant||450 million Rupees||2025|