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HomeBusinessSuzuki Signs MoU with Gujarat State for EV & Batteries Mfg with Investment of 150 Billion Yen

Suzuki Signs MoU with Gujarat State for EV & Batteries Mfg with Investment of 150 Billion Yen

29 March 2022: Suzuki Motor Corporation (SMC) signed MoU with the Gujarat State Govt. with a proposal to invest approximately 150 billion yen (Approx. Rs.104.4 billion) for manufacturing of electric vehicles (EV) and EV batteries. The MOU was signed on 19th March 2022 at India-Japan Economic Forum held in New Delhi, in the presence of Indian Prime Minister Shri Narendra Modi and Japanese Prime Minister Fumio Kishida. The MoU ceremony was also graced by Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Ltd. along with other senior government personnel of India and Japan.

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 an official release from Suzuki Global, MoUs were signed by its Indian subsidiaries with the Gujarat Government. Suzuki Motor Gujarat Pvt Ltd (SMG) has signed an MoU to increase production capacity for EVs with an investment of Rs.31 billion, to be completed by 2025. As per the MoU, SMG will also undertake construction of plant for EV batteries on a nearby land at an outlay of Rs.73 billion which will be completed by 2026. Similarly, Maruti Suzuki Toyotsu India (P) Ltd. (MSTI) has signed MoU for construction of vehicle recycling plant at Rs.450 million and the project is expected to be completed by 2025.

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