Suzuki Motor Corporation, the parent company of Maruti Suzuki which signed an MoU with the Gujarat government at the Indo-Japan Economic Forum in New Delhi on Saturday, will invest about Rs 10,440 crore in the state to strengthen its global EV foray, media reports have suggested.
The Japanese company will build an EV battery manufacturing facility in Gujarat which is slated to come up near SMC’s existing plant.
Toshihiro Suzuki, representative director and president of Suzuki Motor Corporation, told the forum that Suzuki's future mission is to achieve carbon neutrality with small cars. He added, "We will continue active investment in India to realise self-reliant India (Atma-Nirbhar Bharat)."
The first EV is expected to roll out by 2025 which will be sold in India as well as global markets.
Autocar India, this magazine’s sister publication has learnt that an annual production volume of around 125,000 cars is planned for both Maruti Suzuki and Toyota. Of this, 60,000 units is for the Indian market, 40,000 for Europe and around 25,000 for SMC’s home market.