Suzuki Motor Corporation (SMC) signed a Memorandum of Understanding with the State of Gujarat, India to invest approximately 150 billion yen (approximately 104.4 billion rupees) 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 Mr. Fumio Kishida and Indian Prime Minister Mr. Narendra Modi. Mr. Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited were joined by eminent senior government personnel of India and Japan at the ceremony. For further information see the IDTechEx report on Electric Vehicles in India 2021-2041.
Speaking at the Forum, Mr. Toshihiro Suzuki said, "Suzuki's future mission is to achieve carbon neutrality with small cars. We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat)."
Source: Suzuki Motor Corporation
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