Updated: March 21, 2022 3:09:02 am
Suzuki Motor Corporation, the parent firm of Maruti Suzuki India, on Sunday said that it will invest Rs 10,445 crore (150 billion Yen) in Gujarat by 2026 to locally manufacture electric vehicles and batteries.
Under a memorandum of understanding (MoU) signed to this effect with the Gujarat government on March 19 at the India-Japan Economic Forum, the company’s wholly-owned arm Suzuki Motor Gujarat (SMG) said it will invest Rs 7,300 crore for the construction of a plant for BEV batteries at a land near SMG’s existing plant by 2026.
The SMG will invest another Rs 3,100 crore for increasing the production capacity for BEV manufacturing by 2025.
Further, Maruti Suzuki Toyotsu India, a 50:50 joint venture between Maruti Suzuki India and Toyota Tsusho Group, will also set up a vehicle recycling plant in Gujarat by 2025 with an investment of Rs 45 crore.
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“Suzuki’s future mission is to achieve carbon neutrality with small cars,” said Toshihiro Suzuki, representative director and president, Suzuki Motor Corporation.
“We will continue active investment in India to realize self-reliant India (Atmanirbhar Bharat),” he added.
Currently, Maruti Suzuki does not have an electric vehicle in its portfolio, and has maintained that the Indian market is not ready for EVs on a mass scale. Other passenger vehicle manufacturers like Tata Motors, Hyundai Motor India and MG Motor India, offer Evs.
The SMG’s plant has installed annual production capacity of 750,000 units. Further, Maruti’s Gurugram and Manesar plants (both located in Haryana), have an annual production capacity of 1.5 million units. Thus in total the Maruti and SMG plant have a capacity of 2.25 million units. All of this is for internal combustion engine plant. Maruti Suzuki is setting up its third plant in Haryana at Kharkhoda in Sonipat district. fe
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