Suzuki To Invest 1.3 Billion Dollar In Gujarat For EV and Battery Manufacturing!
Suzuki Motor Corporation (SMC) signed MOU with the State of Gujarat, India to invest approximately 150 billion 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 the India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Mr. Fumio Kishida and Indian Prime Minister Mr. Narendra Modi.
This could be for both, electric two-wheelers and four-wheelers that are set to come in the Indian market along with the Toyota partnership. The first electric car is rumored to be an SUV in the mid-size segment. The electric scooter could be Burgman or another model that could come and take on the likes of Bajaj Chetak and TVS iQube.
Mr. Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Mr. 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, Mr. 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).”