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Suzuki to invest $1.3B for EV and EV battery manufacturing in India

Suzuki Motor Corporation (SMC) signed a Memorandum of Understanding (MOU) with the State of Gujarat, India, to invest approximately 104.4 billion rupees (approximately US$1.4 billion) for local manufacturing of electric vehicles (BEV) and BEV batteries.

The MOU was signed on 19 March 2022 at India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.

Of the total investment:

  • US$407.6 million will go to increase production capacity for BEV manufacturingm with a target year of 2025;

  • US$960 million will go toward a battery manufacturing plant, with a target year of 2026; and

  • US$6 million will go toward a vehicle recycling plant, with a target year of 2025.


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