Japan’s Suzuki to invest $1.4 billion for EVs, batteries at India factory

NEW DELHI (Reuters) – Suzuki Motor plans to invest 104.4 billion rupees ($1.37 billion) in its India factory to produce electric vehicles (EVs) and batteries, Maruti Suzuki India, majority-owned by the Japanese carmaker, said on Sunday.

It is the first major EV plan announced by Maruti Suzuki for India in a bid to align itself with a national strategy to reduce oil dependence and cut debilitating air pollution in major cities.

Japanese Prime Minister Fumio Kishida, visiting his Indian counterpart, Narendra Modi, on Saturday announced $42 billion of investment in India over the next five years.

Suzuki Motor Gujarat Private will invest 31 billion rupees by 2025 for increasing production capacity for battery EV manufacturing and 73 billion rupees for construction of plant vehicle batteries, the company said.

“Suzuki’s future mission is to achieve carbon neutrality with small cars,” said Suzuki Motor president Toshihiro Suzuki.

Tata Motors is the largest seller of electric cars in India, with rival Mahindra & Mahindra and motor-bike maker TVS Motor firming up their EV plans.

(Reporting by Aftab Ahmed and Aditi Shah; Editing by William Mallard)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor