21 Mar 2022 , 05:30 PM
The MoU was signed on 19 March 2022 at India-Japan Economic Forum held in New Delhi, India.
Suzuki Motor Gujarat will invest Rs 3100 crore by 2025 to increase production capacity for battery EV manufacturing and Rs 7300 crore by 2026 for construction of plant for BEV batteries (land neighboring to SMG). Maruti Suzuki Toyotsu India will invest Rs 45 crore by 2025 for construction of vehicle recycling plant.
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation, said, Suzukis 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).
Reacting to the news, shares of Maruti Suzuki India rose 0.15% to settle at Rs 7703.50. The stock reversed trend after jumping 3.2% in the morning session today.
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