Suzuki Motor Corp is planning to invest US$1.3 billion in electric vehicle (EV) and battery production in India, the Japanese automaker said yesterday, as it accelerates long-term plans to achieve carbon neutrality.
In a deal signed with the Indian state of Gujarat in the presence of Indian Prime Minister Narendra Modi and visiting Japanese Prime Minister Fumio Kishida, Suzuki said it is planning to increase production capacity for electric vehicle manufacturing in the state.
It aims to begin operations in 2025.
Photo: AP
The company said it would also build a plant manufacturing EV batteries near its Gujarat plant, while a joint venture — Maruti Suzuki Toyotsu India Pvt — would construct a vehicle recycling facility at the same site.
“Suzuki’s future mission is to achieve carbon neutrality with small cars,” Suzuki Motor president Toshihiro Suzuki said.
The announcement comes as major automakers move to boost production of environmentally friendlier vehicles to reduce emissions.
Ford Motor Co early this month said it would separate its conventional and electric vehicle businesses as it steps up production of emission-free vehicles.
Sony Group Corp also announced an EV joint venture with Honda Motor Co, while Nissan Motor Co and Mitsubishi Motors Co have promised new EV lineups.
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