NEW DELHI: Japanese automobile behemoth Suzuki Motor Corporation inked a set of three MoUs with the Gujarat government to pump about ₹10,440 crore into indigenous manufacturing of electric vehicles as well as electric vehicle batteries in presence of Japanese PM Fumio Kishida and Indian PM Narendra Modi on Saturday.
According to an official release issued by the company, out of the three MoUs signed at the India-Japan Economic Forum on Saturday, two are planned for 2025, and one is till 2026.
Suzuki Motor Gujarat Private Limited committed two investments of ₹31 billion and ₹73 billion for boosting the production of BEV and setting up a plant for BEV batteries in Gujarat, the release stated.
Maruti Suzuki Toyotsu India Private Limited, a joint venture of the auto duumvirate Maruti Suzuki India and Toyota Tsusho Group laid out a plan to invest ₹450 million. Suzuki is expected to announce more funding, accelerating India’s self-reliant Atma Nirbhar mission, it added.