Suzuki Motor has announced plans to invest up to $1.3 billion to build a new electric vehicle (EV) battery plant in India.
The automaker revealed the plans after a meeting between Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi in New Delhi on March 19. (via Nikkei)
Construction of the new plant will begin next year near an existing Suzuki facility in the western state of Gujarat. Suzuki hopes to have it up and running by 2025 or 2026.
Suzuki currently has no EVs on the market today, but has previously announced plans to launch their first in 2025.
That EV will first launch in India, before being offered at a later date in Japan and Europe.
Suzuki currently has three auto plants in India, and a joint-venture battery factory with Toshiba and Desno. The batteries from that facility are used in hybrid vehicles.
