Suzuki Motors plans to invest Rs 950 crore in EV production in India, according to a report1 min read
According to Japanese media, the car giant Suzuki Motors is planning to invest roughly 950 crore ($1.26 billion) in the Indian market. The funds will be utilised to manufacture electric vehicles and batteries.
On Saturday, Japanese Prime Minister Fumio Kishida will visit India to meet with his Indian counterpart, Prime Minister Narendra Modi.
According to the Nikkei business newspaper, Suzuki’s investment proposal would be part of an announcement by Kishida during his tour of intentions to spend 5 trillion yen in India over the next five years.
According to Nikkei, Suzuki has planned to develop a new electric car production line in India, with the goal of commencing operations as early as 2025.
A spokesman for Suzuki Motor declined to confirm the claims. Maruti Suzuki is now working on creating CNG vehicle choices in India for its existing car models such as the Celerio and WagonR.
However, Maruti Suzuki’s competitors in India, such as Tata Motors, MG, Hyundai, and others, are a step ahead in offering inexpensive electric cars in the Indian auto market, such as the Tata Nexon EV and the MG ZS EV.