NE BUSINESS BUREAU
NEW DELHI, MARCH 20
Japanese automaker Suzuki Motor Corporation (SMC) has signed an MOU with the State of Gujarat, India and will invest approximately 150 billion yen (approximately Rs 104.4 billion) for local manufacturing of battery electric vehicles (BEV) and BEV batteries.
Suzuki Motor Corp has signed an MoU with Gujarat Govt in the presence of Japanese PM Fumio Kishida and PM @narendramodi at India-Japan Economic Forum at New Delhi to set-up manufacturing plant for electric vehicles (BEV) & BEV batteries with an investment of around ₹10,430 crore pic.twitter.com/vYUfv0QvD4
— CMO Gujarat (@CMOGuj) March 20, 2022
The MOU was signed on Saturday, March 19, 2022 at the India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.
The talks with PM @kishida230 were extensive and productive. He has always been a great friend of India’s. We took stock of the progress in our bilateral relations over the last few years. We also discussed various regional and global issues. pic.twitter.com/FaP3xP5o9u
— Narendra Modi (@narendramodi) March 19, 2022
Some of the other subjects that were discussed during the talks with PM @kishida230 included climate change, clean energy, infrastructure development and cultural cooperation. We also met business leaders earlier in the day.
— Narendra Modi (@narendramodi) March 19, 2022
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited were joined by eminent senior government personnel of India and Japan at the ceremony. Speaking at the Forum, Toshihiro Suzuki said, “Suzuki’s future mission is to achieve carbon neutrality with small cars.”
Boosting business linkages with Japan. Watch. https://t.co/XwUcS08DoN
— Narendra Modi (@narendramodi) March 19, 2022
He added, “We will continue active investment in India to realize Self-reliant India (Atmanirbhar Bharat).”
As per the MOU, Suzuki Motor Gujarat Private Limited (SMG) will invest 31 billion rupees for increasing production capacity for BEV manufacturing and 73 billion rupees for the construction of a plant for BEV batteries (on land neighbouring to SMG).
Maruti Suzuki Toyotsu India Private Limited (MSTI) will invest 450 million rupees towards the construction of a vehicle recycling plant.
