Electric vehicles are currently being seen as the need of the future. Almost all automakers have already planned to invest in units of electric vehicles. In this episode, Suzuki Motors of Japan has announced an investment of $ 1.26 billion in India. The investment will be used by the company to build a factory for electric vehicles and batteries.
Suzuki to set up battery plant According to Japanese business news website Nikkei, this battery manufacturing plant of Suzuki Automobiles will be set up near the manufacturing unit of Gujarat. An estimated 150 billion yen ($1.26 billion) could be invested by the company in this plant. Through this plant, the company will promote electric vehicles. However, no official statement has been issued by Suzuki Motors India on this news.
Another battery plant being built in Gujarat: Prior to Suzuki Motors’ investment, in October 2019, Automotive Electronics Power Private Limited (AEPPL), a joint venture between Japanese company Toshiba, Denso Corporation and SMC, along with the Gujarat government had set up a two-phase lithium-ion battery plant in Hansalpur, Ahmedabad. 4930 crores MoU was signed for
Japan will invest 3.2 lakh crore in India: Japanese Prime Minister Fumio Kishida is on a visit to India. In the summit between India and Japan on Saturday, the Prime Minister of Japan announced an investment of 3.2 lakh crores. As per the plan, this investment will be made over the next 5 years. Among the sectors Japan will invest primarily in will be electric vehicles, electric charging stations, storage capacity for batteries, solar energy, hydrogen and ammonia.
Suzuki will bring electric vehicles to India by 2025: Some time back, Maruti Suzuki Chairman RC Bhargava had announced that by 2025, Maruti Suzuki could launch its first electric vehicle in the country. Let us tell you that earlier Tata, Mahindra, MG and Hyundai have launched electric vehicles in the market.