Japan’s Suzuki Motors to invest worth $1.3 Bn for electric vehicle production in India
- ByStartupStory | March 19, 2022
About 150 billion yen ($1.26 billion) was planned to be invested by Japan’s Suzuki Motor in order to produce electric vehicles and batteries in India, states reports on Saturday.
On Saturday, Japanese Prime Minister Fumio Kishida is visiting India in order to meet his Indian counterpart Narendra Modi. Suzuki’s investment plan will be part of an announcement by Kishida over the next five years in India, during his trip of plans to invest 5 trillion yen, according to the Nikkei business daily.
With the aim of starting operations as early as 2025, Suzuki has decided to build a new electric vehicle production line in India, Nikkei reported.
div class=”story_post_mainthumnail”>
After assuming office on his first visit to India and also amid the ongoing Ukrainian crisis, Japanese Prime Minister Fumio Kishida will take part in the 14th India-Japan Annual Summit during his two-day stay in New Delhi, besides holding bilateral talks with PM Narendra Modi.
In October 2018, the India-Japan Annual Summit took place in Tokyo.
While the major oil-consuming countries are keeping a close watch on the impact of the Ukrainian crisis on oil prices, Kishida’s visit to India gains significance amid the western countries slapping sanctions against Russia for its military operation in Ukraine.
Follow Startup Story
Related Posts
