Gujarat: Suzuki to invest Rs. 10,440 crore in EV unit

Suzuki Motor Gujarat will invest another Rs. 3,100 crores for boosting its EV production.

The Suzuki Motor Corporation has signed a memorandum of understanding (MoU) with the government of Gujarat to ramp up electric vehicle production and set up an EV battery manufacturing unit in the state.

Under the MoU, Suzuki will invest Rs. 7,300 crore for the construction of a battery plant by 2026. Suzuki Motor Gujarat will invest another Rs. 3,100 crores for boosting its EV production capacity by 2025.

In addition to this, Maruti Suzuki Toyotsu India Pvt. Ltd. will invest Rs. 45 crore to set up a vehicle recycling plant by 2025.

The company's first recycling facility is already operational in Noida. It is also the first government-approved scrapping facility for end-of-life vehicles. Spread over 10,993 sq. mt., the recycling unit can process 2,000 vehicles per month.

Source: Money Control