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Suzuki Is Investing $1.3 Billion To Bring EV Production To India

India has the wealthiest automobile market in South Asia, with a diverse range of manufacturers, comprising numerous wholly-owned subsidiaries. Suzuki Motor, one of India’s leading automakers, has set aside $1.3 billion to manufacture electric cars (EVs) and rechargeable batteries regionally. The news was made during the signing ceremony for the contract in Gujarat. The meeting was also addressed by the Prime Ministers of India and Japan. The corporation planned to start EV production by 2025, with the goal of accelerating EV manufacture in the South Asian area. Suzuki aspires for India to be a forerunner in South Asian budget-EV development, owing to the existence of multiple EV manufacturers in the country, notably Tata Motors, MG Motor, Mahindra, Hyundai, TVS Motor Company, Bajaj Automotive, and many others.

In addition to a specialized EV battery production factory, the carmaker plans to build a battery recycling program. Toshihiro Suzuki, the company’s president, claimed that “Suzuki’s ultimate objective is to attain net-zero emissions with compact automobiles.” Thus according to Mashable, Suzuki has so far evaluated over 50 EV prototypes in India and plans to debut a comprehensive EV series shortly.

India’s objective is to have 30% of freshly sold automobiles be rechargeable by 2030. In June of last year, the Indian government opted to prolong the inducement programs for another two years. Suzuki has about 50% share of the market. In addition, the business is collaborating with Denso, a vehicle components manufacturer, to establish a rechargeable facility in India. The development occurred at a time when Tesla’s entry into India has been postponed due to a dispute with the Indian government over custom taxes. Musk has also not reacted to India’s request for Tesla to be manufactured in the nation.

The business will also develop an EV battery production factory near its Gujarat plant, while a partnership, Maruti Suzuki Toyotsu India, would create an automobile recycling system at the same location, according to the release. Mr. Toshihiro Suzuki stated at the Forum, ” “We will make significant investments actively to achieve Self-reliant India,” he underlined.