Suzuki Motor Corporation, the parent company of Maruti, has announced an investment of ₹ 10,440 crore in India to strengthen its EV gameplan.
The investment was confirmed through a ‘Memorandum of Understanding’ signed between Suzuki Motor Corporation and the Gujarat government at the India-Japan Economic Forum in New Delhi, recently.
The investment will help fund the development of an all-new mid-size electric SUV that will be built at Suzuki’s Gujarat plant, among other future products. As part of the MoU, Suzuki will also build a new factory for the manufacturing of EV batteries near its existing plant in Gujarat. It aims for the new factory to be up and running by 2025.
