Suzuki has signed a Memorandum of Understanding with the Indian state of Gujarat to invest 150 billion yen into EV production.
The MOU was signed on 19th March 2022 at India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Mr. Furnia Kishida and Indian Prime Minister Mr. Narendra Modi.
The fee, which is approximately £944 million, will look to increase production capacity for BEV manufacturing by 2025, with the construction of a plant for BEV batteries scheduled for 2026. Construction of a vehicle recycling plant is also planned for 2025.
Mr. Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited were joined by eminent senior government personnel of India and Japan at the ceremony.
Speaking at the Forum, Mr. Toshihiro Suzuki said: “Suzuki’s future mission is to achieve carbon neutrality with small cars.”
He added, “We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”