New Delhi: Suzuki Motor, the parent company of the country’s leading car company Maruti Suzuki, will set up a plant of Electric Vehicles (EVs) and the batteries used in them in Gujarat. About $ 1.4 billion will be invested in both these schemes in the next 5 years. In the presence of Prime Minister Narendra Modi and Japan’s PM Fumio Kishida, Suzuki Motor Gujarat Private Limited, a wholly owned company of Suzuki Motor Corporation, has approved the State Government. MoU signed with
Suzuki Motor Gujarat Private Limited will invest about Rs 73 billion by 2026 on the construction of Electric Vehicles (EVs) plant. It will also invest Rs 31 billion on the battery plant by 2025. Considering the rising crude oil prices and rising air pollution, this strategy of Suzuki Motor will prove beneficial not only from the environmental point of view but also for the Indian car market.
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The price of electric vehicles will decrease
This move of the company is expected to reduce the prices of Electric Vehicles (EVs) in the domestic market. Let us tell you that Maruti Suzuki does not make electric vehicles yet. Its entry in this segment is expected to make vehicles cheaper also because its focus has always been more on prices keeping in mind the domestic consumers.
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Recycling unit will also be set up
Another company of Suzuki Motor Corporation, Maruti Suzuki Toyotsu India Pvt Ltd (Maruti Suzuki Toyotsu India Pvt Ltd) will invest Rs 45 crore on the construction of vehicles recycling unit by the year 2025. Earlier in November 2019, a joint venture between Maruti Suzuki and Toyota Tsusho Group announced the setting up of a dismantling and recycling unit in Noida, Uttar Pradesh.
Tags: Electric Car, Electric Vehicles, Maruti Suzuki
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