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Suzuki Motor to invest USD1.3B for EV production in India

TOKYO (CNA) – Japan’s Suzuki Motor plans to invest about JPY150 billion (USD1.26 billion) to produce electric vehicles (EV) and batteries in India, Japanese media reported yesterday.

Japanese Prime Minister Fumio Kishida is in India to meet his Indian counterpart Narendra Modi.

Suzuki’s investment plan will be part of an announcement by Kishida during his trip of plans to invest JPY5 trillion over the next five years in India, according to the Nikkei business daily.

Suzuki has decided to build a new electric vehicle production line in India with the aim of starting operations as early as 2025, Nikkei said, without identifying the source of its report.

A Suzuki Motor spokesperson declined to confirm the reports.

A man passes a Suzuki showroom in India. PHOTO: BLOOMBERG