Home / News / Maruti Suzuki will manufacture electric vehicles in Gujarat and has signed a MOU for Rs 10,440 crore

 

From its Gujarat plant, India’s largest carmaker intends to launch affordable electric vehicles in both Japan and India as early as 2025.

Suzuki Motor Corporation has signed a Memorandum of Understanding (MOU) with the Gujarat government for the production of electric vehicles and batteries. This demonstrates that the company is finally making headway in the field of electric vehicles.

Suzuki Motor will invest approximately 150 billion yen (roughly Rs 10,440 crores) in local electric vehicle and battery manufacturing. Suzuki wants to enhance its electric vehicle production capacity starting in 2025, implying that the electric Maruti will launch around the same time. The battery manufacturing units are expected to open in 2026.

Suzuki is preparing to join the non-IC engine car market through its global partnership with Toyota, and India will play a key role in this strategy. According to sources, Suzuki Motor Corporation (Maruti Suzuki) and Toyota Motor Corporation (Toyota Kirloskar Motors) are developing a mass-market electric vehicle that will be sold in India and exported to Europe and South Asia.

The battery plant will be located near a Suzuki factory run by Suzuki Motor Gujarat (SMG), a wholly-owned subsidiary of Suzuki Motor Corporation that provides Maruti with parts. It just began a new production line with the goal of increasing yearly production to 7.50 lakh units. Additionally  Japanese Prime Minister Fumio Kishida set a five trillion yen (Rs 3,20,000 crore) investment objective in India over the next five years.

The two countries also launched a Clean Energy Partnership (CEP) to collaborate in sectors such as electric vehicles, battery storage, electric vehicle charging infrastructure, solar energy development, and hydrogen and ammonia.

 

 

About the author: Kurt Morris

 

 

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