The MoU was signed on March 19, 2022 in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi at the India-Japan Economic Forum held in New Delhi, India.
see photosThe MoU was signed in the presence of Japanese PM Fumio Kishida and Indian PM Narendra Modi.
Suzuki Motor Corporation (SMC) has signed a memorandum of understanding with the Indian state of Gujarat to invest around 150 billion yen (about Rs 104.4 billion) for local manufacturing of electric vehicles (BEVs) and BEV batteries. Suzuki will build a new electric vehicle production line in India. India has set a target of making 30 percent of all new cars sold by 2030 electric. Now, to achieve this, the government has offered incentives to buyers of electric vehicles worth $1.3 billion over a three-year period starting in 2019. Then the announcement comes at the right time, where Suzuki wants to manufacture both electric cars and electric batteries locally. This will definitely mean that EVs will be cheaper, however, there is no word on that yet. Carandbike reached out to Maruti Suzuki for a statement regarding the timeline regarding the new factory, but the company said it was a global decision and would not comment on the development just yet.
The WagonR electric car has been spied testing in India on several occasions
The MoU was signed on March 19, 2022 in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi at the India-Japan Economic Forum held in New Delhi, India. Toshihiro Suzuki, Representative Director and Chairman, Suzuki Motor Corporation and Kenichi Ayukawa, Managing Director and CEO, Maruti Suzuki India Limited attended the ceremony along with senior government officials from India and Japan.
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Speaking at the forum, Toshihiro Suzuki said, “Suzuki’s future mission is to achieve carbon neutrality with small cars.” The statement makes it clear that Maruti Suzuki will target EVs in the small car segment, but we await more details from the carmaker about the time frame for the products as well as the manufacturing plant for the battery.
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