On Sunday, March 20, the Japanese carmaker, Suzuki announced to invest $1.3 billion approx Rs 10,445 crore into electric vehicles & battery production in India. This move will help in achieving the long term goal of carbon neutrality.
The company has signed an MOU with Govt of Gujarat. “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 car manufacturer said in a statement.
As the Japanese Prime Minister Fumio Kishida is on his two-day visit to India, this MOU was signed in his presence at India-Japan Annual Summit held in New Delhi. PM Narendra Modi was also present at the forum. Mr Toshihiro Suzuki, Representative Director and President of Suzuki Motor Corporation & Mr Kenichi Ayukawa, Managing Director & CEO of Maruti Suzuki India Ltd took part in the discussion.
“Suzuki’s future mission is to achieve carbon neutrality with small cars. We will continue active investment in India to realise Self-reliant India (Atma-nirbhar Bharat),” said Toshihiro Suzuki. In 2019, Maruti Suzuki partnered with Toyota Tsusho Group to develop a vehicle dismantling & recycling plant in Noida, Uttar Pradesh.