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Suzuki's 10,000 Crore investment on electric vehicles, now cheap and cost-effective electric vehicles will come in the market

 Suzuki Motor has played such a big bet on electric vehicles in India that you can be blown away by the amount of investment. The company has announced an investment of more than Rs 10,000 crore on battery-operated electric vehicles after PM Modi's meeting with Japan's Prime Minister Fumio Kishida recently.

  • Suzuki's bumper investment in electric vehicles
  • Investment plan of more than 10,000 crores
  • The company will launch a very cheap EV in India!
    suzuki electric cars

New Delhi: Japanese auto major Suzuki Motor  will invest 150 billion yen (Rs 10,445 crore) in Gujarat by 2026 to locally manufacture battery electric vehicles (BEV) and BEV batteries. The company has signed a Memorandum of Understanding (MoU) with the Government of Gujarat in this regard. Simply put, now the demon of the auto industry has woken up and now electric vehicles are about to come out in the Indian market. Suzuki will soon bring cheap electric vehicles in the market, which will not only sit in the budget of the people, but will also save them from the hassle of petrol and diesel.

Prime Minister of Japan meets PM Modi

Suzuki Motor said in a statement, "The agreement was signed at the India-Japan Economic Forum held in New Delhi on March 19, 2022. Prime Minister of Japan Fumio Kishida and Prime Minister of India, Narendra Modi were also present on the occasion. Addressing the forum, SMC Representative Director and President Toshihiro Suzuki said, "Suzuki's future mission is to achieve carbon neutrality with small cars. We will continue to invest here for a self-reliant India."

Where will the amount be spent?

Under the MoU, the wholly owned entity of the company, Suzuki Motor Gujarat Pvt. By 2026, BEV will invest Rs 7,300 crore on a battery manufacturing plant near the existing SMC factory. Apart from this, SMC will also invest Rs 3,100 crore to increase the production capacity of BEV manufacturing by 2025. Another group company is Maruti Suzuki Toyetsu India Pvt Ltd. 45 crores will be invested on the construction of vehicle recycling plants by 2025.

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