Suzuki to invest Rs 104.4 billion for manufacturing EVs and batteries in Gujarat

Suzuki Motor Corporation has signed a memorandum of understanding (MoU) with the Gujarat government to invest around 150 billion yen (about Rs 104.4 billion) by 2026, for local manufacturing of battery electric vehicles (BEV) and BEV batteries in Gujarat.

 

Under the MoU, the company’s wholly-owned arm Suzuki Motor Gujarat Private Limited (SMG) will invest Rs 73 billion for the construction of a plant for making BEV batteries at a land neighboring to SMG’s existing plant by 2026. Also, SMG will invest another Rs 31 billion for increasing manufacturing capacity for BEV by 2025. Another group firm Maruti Suzuki Toyotsu India Private Limited (MSTI) will make an investment of around Rs 0.40billion on construction of vehicle recycling plant by 2025.

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