Suzuki Motor Corporation has invested to the tune of 10440 crores giving EV push in India. The corporation’s mission is to achieve carbon neutrality with small cars.
Suzuki Motor Corporation (SMC), a japan based MNC and the parent company of the Maruti Suzuki India Ltd., signed a Memorandum of Understanding (MoU) with the State of Gujarat to invest around 150 billion yen (approximately around 10440 crore rupees) for local manufacturing of Electronic Vehicles (BEV) and BEV Batteries.
The signees to the MoU are Suzuki Motor Gujarat Pvt. Ltd. (SMG) and Maruti Suzuki Toyotsu India Private Limited (MSTI). It was signed on 19 March 2022 at the India-Japan Economic Forum held in New Delhi, India, graced with the presence of Japanese Prime Minister Mr. Fumio Kishida and his Indian Counterpart Mr. Narendra Modi.
Mr. Toshihiro Suzuki, Representative Director and President of the Suzuki Motor Corporation, Mr. Kenichi Ayukawa, Managing Director and CEO of Maruti Suzuki India Limited, and other senior government officials were present at the Economic Forum.
Speaking at the Forum, Mr. Toshihiro Suzuki said, “Suzuki’s future mission is to achieve carbon neutrality with small cars.”
He added, “We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”
Out of 10440 Crores rupees, 3100 crores shall be invested for increasing production capacity for BEV Manufacturing by 2025. 7300 crores shall be invested for the construction of plants for BEV Batteries by the planned the year 2026. Around 450 million rupees are planned to be invested for the construction of a vehicle recycling plant by 2025.
These developments are in the backdrop of India’s renewed commitment towards achieving Net Zero Emissions. At the 26th Conference of Parties (COP), India has affirmed that it will meet around 50% of its energy requirements from renewable energy by 2030.
Moreover, India has decided to ramp up its electronic mobility industry. Many startups are coming up like yulu that are focussing on environment-friendly mobility in India.
Suzuki has been a leading player in expanding the EV industry in Japan too. It is a part of a consortium that aims to increase the adoption of electric motorcycles in Japan. Last year, the consortium agreed to standardize swappable batteries in electric motorcycles to increase the adoption of electric motorcycles in Japan.
