BSS
  20 Mar 2022, 10:15

Suzuki to invest $1.3 billion in India electric vehicle production

NEW DELHI, March 20, 2022 (BSS/AFP) - Suzuki Motor will invest $1.3 billion
into electric vehicle and battery production in India, the Japanese car maker
said Sunday, as it accelerates long-term plans to achieve carbon neutrality.

  In a deal signed with the Indian state of Gujarat in the presence of
visiting Japanese Prime Minister Fumio Kishida and Indian counterpart
Narendra Modi, Suzuki said it planned to increase production capacity for
electric vehicle manufacturing in the state.

  It aims to begin operations in 2025.

  The company will also build a plant manufacturing EV batteries on land near
its Gujarat plant, while a joint venture -- Maruti Suzuki Toyotsu India --
will construct a vehicle recycling facility at the same site, the statement
said.

  "Suzuki's future mission is to achieve carbon neutrality with small cars,"
the company's president Toshihiro Suzuki said.

  The announcement comes as major automakers move to boost production of
green cars in a bid to reduce emissions.

  Early this month US car titan Ford said it would separate its conventional
and electric-auto businesses as it steps up production of emission-free
vehicles.

  Sony also announced it was teaming up with Honda to create a joint venture
that will develop and sell electric vehicles, after its January unveiling of
the Vision-S, a new prototype.

  Nissan, Renault and Mitsubishi Motors have promised to offer 35 new
electric models over the next five years, while Toyota recently hiked its
2030 EV sales goal by 75 percent.