Suzuki Motors to export Made in India Electric Vehicles (EVs) to Japan in 2025
- IBEF
- October 19, 2023
According to a report, Suzuki Motor of Japan plans to begin exporting Electric Vehicles (EVs) manufactured at Maruti Suzuki's Gujarat plant in India to Japan as early as 2025. As part of its plan to establish India as a global hub to produce electric cars, Suzuki is also considering providing partner Toyota Motor with India-made EVs for the European market.
In addition to selling under its own brand in Europe, it is thinking of supplying Toyota Motor for sale there as part of a joint venture with a Japanese competitor. If it does decide to supply EVs to Toyota, those EVs will be sold under the Toyota brand.
Last year, the Japanese car maker announced a Rs. 10,440 crore (US$ 1.25 billion) investment in India to manufacture electric vehicles and Battery Electric Vehicle (BEV) batteries.
Of this, Rs. 3100 crore (US$ 372.3 million) will be used to expand Suzuki Motor Gujarat's ability to produce electric vehicles by 2025, and Rs. 7300 crore (US$ 876.6 million) will be used to establish a plant that will produce batteries for electric vehicles by 2026. Maruti Suzuki Toyotsu will use the remaining funds to establish a car recycling facility in 2025.
On March 19, 2022, in the presence of Indian Prime Minister Mr. Narendra Modi and Japanese Prime Minister Mr. Fumio Kishida at the India-Japan Economic Forum in New Delhi, India, Suzuki Motor Corporation also inked a Memorandum of Understanding with the State of Gujarat.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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