Suzuki Motor Corporation has signed an agreement with the Government of Gujarat, under which Battery Electric Vehicles (BEV) and BEV batteries will be manufactured.
Japanese car maker Suzuki Motor Corporation (SMC) has announced an investment of 150 billion yen (Rs 10,445 crore) in Gujarat by 2026. Under this, a battery plant will soon be set up and battery electric vehicles (BEV) and BEV batteries will be manufactured here. Giving this information on Sunday, the company said that it has signed a Memorandum of Understanding (MoU) with the Gujarat government in this regard.
Will continue to invest in India: Suzuki Motor
Suzuki Motor Corporation said in a statement, “This agreement was signed at the India-Japan Economic Forum held in New Delhi on March 19, 2022. Prime Minister of Japan Fumio Kishida and Prime Minister of India, Narendra Modi were also present on the occasion.” Speaking on the occasion, Toshihiro Suzuki, Representative Director and President of SMC said, “Suzuki’s future mission is to achieve carbon neutrality with small cars. is to do. We will continue to invest here for a self-reliant India.
Under the MoU, the wholly owned unit of the company, Suzuki Motor Gujarat Pvt Ltd. (SMG) will invest Rs 7,300 crore on the manufacturing plant of BEV batteries near SMC’s existing factory by 2026. Apart from this, SMC will also invest Rs 3,100 crore to increase the production capacity of BEV manufacturing by 2025. Another group company is Maruti Suzuki Toyotsu India Pvt Ltd. Will invest Rs 45 crore more on the construction of vehicle recycling plant by 2025. (Input- PTI)