New Delhi: Japanese auto major Suzuki Motor Corporation (SMC) will invest 150 billion yen (Rs 10,445 crore) in Gujarat by 2026 to manufacture battery electric vehicles (BEVs) and BEV batteries locally. The company has signed a Memorandum of Understanding (MoU) with the Government of Gujarat in this regard. 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. Addressing the forum, SMC Representative Director and President Toshihiro Suzuki said, “Suzuki’s future mission is to achieve carbon neutrality with small cars. 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. By 2026, BEV will invest Rs 7,300 crore in a manufacturing plant of batteries near SMC’s existing factory. 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 another Rs 45 crore on the construction of a vehicle recycling plant by 2025.
