Japan’s Suzuki invests $1.4 billion in EVs at India plant
Maruti Suzuki India Limited logo is pictured on a car parked in front of a showroom in New Delhi, India February 29, 2016. REUTERS/Anindito Mukherjee
March 20, 2022
NEW DELHI (Reuters) – Suzuki Motor plans to invest 104.4 billion rupees ($1.37 billion) in its plant in India to produce electric vehicles (EVs) and batteries, said Maruti Suzuki India, which is majority owned owned by the Japanese automaker, on Sunday.
It is the first major EV plan announced by Maruti Suzuki for India to align with a national strategy to reduce oil dependency and reduce debilitating air pollution in major cities.
Japanese Prime Minister Fumio Kishida on Saturday announced $42 billion in investments in India over the next five years during a visit to his Indian counterpart Narendra Modi.
Suzuki Motor Gujarat Private will invest Rs. 31 billion in increasing production capacity to manufacture battery EVs and Rs. 73 billion in building factory vehicle batteries by 2025, the company said.
“Suzuki’s future mission is to achieve carbon neutrality in small cars,” said Toshihiro Suzuki, President of Suzuki Motor.
Tata Motors is the largest supplier of electric cars in India, with rival Mahindra & Mahindra and motorcycle maker TVS Motor solidifying their EV plans.
(Reporting by Aftab Ahmed and Aditi Shah; Editing by William Mallard)
https://www.oann.com/japans-suzuki-to-invest-1-4-billion-for-evs-at-india-factory/?utm_source=rss&utm_medium=rss&utm_campaign=japans-suzuki-to-invest-1-4-billion-for-evs-at-india-factory Japan’s Suzuki invests $1.4 billion in EVs at India plant
