38.6c New Delhi, India, Saturday, August 02, 2025
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Business

Maruti takes first steps in EVs as Suzuki Motor to invest Rs 10,440 crore in Gujarat

By Dolly Chhabda      22 March, 2022 01:53 AM      0 Comments
Maruti takes Suzuki Motor Gujarat

Suzuki Motor Corporation of Japan said on March 20 that it aims to invest 150 billion yen (about Rs 10,440 crore) in expanding electric car production capacity as well as establishing an EV battery manufacturing plant and vehicle recycling facility in Gujarat.

In the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi, the memorandum of agreement with the state government was signed on March 19 during the India-Japan Economic Forum in New Delhi.

"Suzuki's future aim is to attain carbon neutrality with compact vehicles," Toshihiro Suzuki, representative director and president of Suzuki Motor Corporation, stated during the meeting. "We will continue to invest actively in India to realise self-reliant India (Atma-Nirbhar Bharat)," he added.

This is a significant milestone for Maruti Suzuki because it represents the company's first venture into electric vehicles in India. However, no changes to the EV launch timeframe, which Maruti had set at 2025, have been disclosed, so profitability will not be boosted immediately by EVs, even if mood remains favourable. 

Suzuki Motor Gujarat Pvt Ltd (SMG), a wholly owned subsidiary of Suzuki Motor Corporation, will invest Rs 7,300 crore in the construction of a battery plant near SMG's automobile manufacturing facility by 2026, according to the MoU. By 2025, SMG plans to invest additional Rs 3,100 crore to increase EV production capacity. In addition, Maruti Suzuki Toyota India Pvt Ltd, a subsidiary of the group, would spend Rs 45 crore in the establishment of a car recycling plant by 2025. This comes after Maruti Suzuki and Toyota Tsusho Group launched a joint venture for car disassembly and recycling in November 2019 and announced the establishment of a factory in Noida, Uttar Pradesh.

Due to a lack of infrastructure and government assistance, Maruti Suzuki has already shelved plans to deploy electric vehicles in 2020.

Suzuki Motor Corporation's declaration comes after Japan stated on March 19 that it will spend Rs 4,20,000 crore in India over the next five years as a result of negotiations between Modi and Kishida.



Share this article:



Leave a feedback about this
TRENDING NEWS

sc-to-first-consider-maintainability-of-review-against-2022-judgment-on-eds-powers-under-pmla
Trending Judiciary
SC to first consider maintainability of review against 2022 judgment on ED's powers under PMLA

SC to first decide if review pleas on ED powers under PMLA are maintainable; hearing on Karti Chidambaram’s plea set for August 6.

01 August, 2025 10:58 AM
sc-recalls-may-2-judgment-scrapping-jsw-steels-resolution-plan-for-bhushan-power-and-steel-ltd
Trending Business
SC recalls May 2 judgment scrapping JSW Steel's resolution plan for Bhushan Power and Steel Ltd

SC recalls its May 2 verdict cancelling JSW Steel’s ₹19,300 Cr resolution plan for Bhushan Power; matter to be heard afresh on August 7.

01 August, 2025 11:13 AM

TOP STORIES

sc-questions-justice-varma-over-failure-to-challenge-validity-of-in-house-inquiry-panel
Trending Judiciary
SC questions Justice Varma over failure to challenge validity of in-house inquiry panel

SC questions Justice Varma for not challenging in-house probe panel earlier despite cash haul case; asks why he joined inquiry if he found it flawed.

28 July, 2025 02:27 PM
timelines-for-governor-prez-to-clear-bills-kerala-asks-sc-to-return-presidential-reference-unanswered
Trending Executive
Timelines for Governor, Prez to clear Bills: Kerala asks SC to return presidential reference "unanswered"

Kerala urges SC to return Presidential reference on bill clearance timelines as “unmaintainable”, citing suppression of facts and settled SC rulings under Article 200.

28 July, 2025 02:38 PM
sc-refuses-to-stay-publication-of-draft-voters-list-in-bihar-on-aug-1
Trending Judiciary
SC refuses to stay publication of draft voters list in Bihar on Aug 1

SC declines stay on Bihar draft voter list; asks EC to consider Aadhaar, Voter ID for inclusion ahead of Assembly polls on August 1.

28 July, 2025 04:10 PM
why-so-many-students-dying-by-suicides-sc-asks-iit-kharagpur
Trending Judiciary
Why so many students dying by suicides, SC asks IIT Kharagpur

SC asks IIT Kharagpur why students are dying by suicide; raises concern amid rising campus deaths despite new mental health guidelines.

29 July, 2025 11:51 AM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email