Suzuki Motor Corporation has confirmed to invest Rs 10,440 crores (1.37 billion dollars) in its India to produce electric vehicles (EVs) and batteries, Maruti Suzuki India said on Sunday. The investment in India is in a bid to strengthen Suzuki’s Electric Vehicle presence in the Indian market.
According to some reports, Suzuki will roll out its first all-electric SUV, to be built at its Gujarat plant by 2025. This Indian made electric SUV will be sold as a Maruti as well as a Toyota model in India as well as in the international markets.
It is the first major Electric Vehicle plan announced by Maruti Suzuki in India as it is ramping up to align itself with a national strategy to reduce the dependence on oil and cut down the crippling air pollution in major cities.
Japanese Prime Minister Fumio Kishida, on his visit to India, on Saturday announced 42 billion dollars of investment in India over the period of next five years.
The company said that Suzuki Motor Gujarat Private Limited (SMGPL) will invest 31 billion rupees by 2025 with an objective to increase production capacity for battery EV manufacturing and 73 billion rupees for the construction of plant vehicle batteries.
Suzuki’s future objective is to achieve carbon neutrality with the help of small cars, said Suzuki Motor president Toshihiro Suzuki.
Currently, Tata Motors is the largest seller of electric cars in India, with Mahindra & Mahindra and TVS Motor strengthening up their Electric Vehicle plans.
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