Suzuki To Invest $1.26 Billion To Make Electric Vehicles And Batteries In India: Report
Suzuki Motors has plans to invest $1.26 billion to manufacture electric vehicles (EVs) and batteries in India, Reuters reports.
Rumours regarding the same are circulating in Japanese media on the backdrop of their Prime Minister (PM) Fumio Kishida’s visit to India.
Apparently, Suzuki’s investment plans are likely to be a part of PM Kishida’s announcement of investing five trillion yen in India in the next five years.
The report even mentions that Suzuki is aiming to put up a new EV production line in India. Operations on the same are slated to begin by early-2025.
Maruti Suzuki India Limited’s MD & CEO Kenichi Ayukawa had formerly suggested that the company’s plant in Gujarat could be modeled as an EV hub, Hindustan Times (HT) reports.
It has been speculated that the carmaker is testing the WagonR electric model and certain units of the same have been spotted on trial runs too.
However, the company will be delving into the EV space only when it can play with big volumes.
Maruti Suzuki India Chairman RC Bhargava had stated last year that the automaker intends to have leadership in the EV space in the country.
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