Suzuki Motor to invest Rs 104.4bn in Gujarat for EVs and battery manufacturing
Suzuki Motor Corporation (SMC) has inked a memorandum of understanding (MoU) with the Gujarat government to invest nearly JPY 150 billion (around INR 104.4 billion or $1.37 billion) for domestic manufacturing of electric vehicles (BEV) and BEV batteries.
The MoU was inked during the India-Japan Economic Forum held in New Delhi in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.
Toshihiro Suzuki — Representative Director and President of Suzuki Motor Corporation said: “Suzuki’s future mission is to achieve carbon neutrality with small cars. We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”
Suzuki Motor Corporation will invest INR 31 billion in 2025 through Suzuki Motor Gujarat Private Limited (SMG) for boosting the production capacity for the manufacturing of battery electric vehicles. Suzuki Motor Gujarat will also invest an amount of INR 73 billion in 2026 towards the construction of a plant for manufacturing BEV batteries.
Maruti Suzuki Toyotsu India Private Limited (MSTI), a subsidiary of Maruti Suzuki and Toyota Tsusho Group, will invest INR 450 million in 2025 for constructing a vehicle recycling plant.