Suzuki Motor Corporation (SMC), a Japanese automaker, stated that it has inked an MoU with the Gujarat government to spend Rs 104 billion (about Rs 10,400 crore) in local electric vehicle (BEV) and battery production.
SMC’s 100 percent subsidiary, Maruti Suzuki India Limited (MSIL), announced the news in a regulatory filing.
The MoU was signed in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi at the India-Japan Economic Forum in Delhi.
At the MoU signing event, Dr. Toshiro Suzuki, representative director and president of SMC, and Kenichi Ayukawa, MD and CEO of MSIL, were also present.
