Suzuki Motor Corporation, the parent company of?Maruti, has confirmed an investment of Rs 10,440 crore in India to strengthen its EV gameplan.?
- The company's wholly-owned arm Suzuki Motor Gujarat (SMG) will invest Rs. 7,300 crore for the construction of a plant for Battery Electric Vehicles (BEV) batteries by 2026. Lithium cells are considered the heart of an electric vehicle and currently most EV makers buy batteries and cells from China, the world’s largest producer of Li-ion cells.?Suzuki has already developed a Lithium-Ion battery pack production unit in a joint venture with Japanese?companies?Denso Corp and Toshiba at Hansalpur in Gujarat.
- SMG will invest another Rs. 3,100 crore for increasing production capacity for BEV manufacturing by 2025.
- Moreover, another group firm Maruti Suzuki Toyotsu India (MSTI) will make an investment of Rs. 45 crore for the construction of a vehicle recycling plant by 2025.
The investments, focussed towards electrification of vehicles, carry good potential to change the nature of vehicles in India. With a large part of the production localised, Maruti might be able to market an electric car at cheaper price than its competitor.
Purchase Manager at Vardhan Cable Industries
2 年Welcoming investment by Japan??