It has come to light that Maruti Suzuki India has taken a step towards fulfilling its wish to produce an electric car.
Accordingly, the car giant has signed an agreement with Japanese car manufacturer Toyota to create a venture to undertake this project ahead.
Suzuki Motor Corporation, Maruti’s Japanese parent, has decided to produce electric cars at the Gujarat production facility.
These EVs will not only launch in India but will also be exported to several export markets.
India will become Suzuki’s production and export hub of electric cars.
Suzuki plans to make a fresh investment of $ 600 million to setup up Plant C in Gujarat.
The additional investment will take Suzuki’s net investment in the state of Gujarat to more than $ 2.1 billion.
Currently, Plant A is capable of producing 250,000 units annually.
A lithium-ion battery production facility will churn out batteries for the company’s electric and hybrid cars.
The technology for the batteries will come from Denso, a Toyota-owned company, while the cell modules will come from Toshiba.
Together, the three companies will make an investment of $ 180 million for the battery production plant. This plant will start operations by 2020
