Suzuki and the government of Gujarat have signed an agreement to manufacture EVs and batteries
It has signed an agreement to build a factory for BEV batteries.
Suzuki Motor Corporation (SMC) has signed an agreement with the Gujarat government to invest around JPY 150 billion (roughly Rs 104.4 billion) in local production of electric vehicles (BEV) and BEV batteries.
The company’s long-term goal is to achieve carbon neutrality using compact cars.
Suzuki Motor Gujarat (SMG) signed a Memorandum of Understanding (MoU) with the state government to increase production capacity for BEV manufacturing at a cost of Rs 31 billion, with a target year of 2025.
It also signed an agreement for the development of a BEV battery plant (on property adjacent to SMG) at a cost of Rs 73 billion, with a target completion date of 2026.
Maruti Suzuki Toyotsu India (MSTI) signed a Memorandum of Understanding (MOU) for the establishment of a vehicle recycling factory with a Rs 450 million investment.