Japanese automaker Suzuki Motor Corporation (SMC) has signed an MOU with the State of Gujarat, India and will invest approximately 150 billion yen (approximately 104.4 billion rupees) for local manufacturing of battery electric vehicles (BEV) and BEV batteries. The MOU was signed on 19 March 2022 at the India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and 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, 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 (Atmanirbhar Bharat).”
As per the MOU, Suzuki Motor Gujarat Private Limited (SMG) will invest 31 billion rupees for increasing production capacity for BEV manufacturing and 73 billion rupees for the construction of a plant for BEV batteries (on land neighbouring to SMG).
Maruti Suzuki Toyotsu India Private Limited (MSTI) will invest 450 million rupees towards the construction of a vehicle recycling plant.
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