Suzuki To Invest Approximately 10,440 Crore In India For EV Production

The major stakeholder in the Maruti Suzuki India Limited joint venture – Suzuki Motor Corporation (SMC) recently announced that it has signed an MOU with the State of Gujarat to invest Rs 10,440 crore (approximately $1.3 billion) for local manufacturing of electric vehicles (BEV) and BEV batteries. The Memorandum of Understanding was signed on March 19, 2022, during the India-Japan Economic Forum in New Delhi, India, in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.

Suzuki To Invest Approximately 10,440 Crore In India For EV Production

Mr Toshihiro Suzuki, Representative Director and President of Suzuki Motor Corporation, and Mr Kenichi Ayukawa, Managing Director and CEO of Maruti Suzuki India Limited, were joined at the occasion by prominent senior government officials from India and Japan. During the ceremony, while speaking to the forum, Mr Toshihiro Suzuki said, “Suzuki’s future mission is to achieve carbon neutrality with small cars.” He added, “We will continue active investment in India to realize Self-reliant India (Atma-nirbhar Bharat).”

Suzuki Motor Gujarat Private Limited plans to invest Rs 3,100 crore by 2025 to boost BEV production capacity. Another Rs 7,300 crore will be invested by 2026 for the building of a BEV battery manufacturing plant (lane neighbouring to SMG). Maruti Suzuki Toyotsu India Private Limited (MSTI) has plans to invest Rs 45 crore in the development of a vehicle recycling factory by 2025.

In other Maruti Suzuki news, we recently told you about Maruti’s upcoming Creta and Seltos rivalling SUV. We reported that the model is being developed in collaboration with Toyota and will be based on the DNGA (Daihatsu New Global Architecture) modular platform sourced from Daihatsu. The Maruti Suzuki version of this upcoming SUV has been codenamed YFG, while the Toyota division refers to it as the D22. When it is released, this new compact SUV will compete with the likes of Kia Seltos, VW Taigun, Skoda Kushaq, MG Astor, and others.

In terms of the exterior design, we believe that the Maruti YFG will come with a new grille and a set of split headlamps with LED DRLs. While in terms of features and creature comforts, we anticipate that the SUV will come equipped with the latest technologies. And, based on the existing norm of this SUV class, a large infotainment touchscreen display, linked car technology, and other features should find their way into production versions.

As for the drivetrain of this forthcoming SUV, reports suggest that it will be powered by the Maruti Suzuki’s 1.5L K15B naturally aspirated petrol engine. Power output figures for this motor stand at 104hp and 138Nm torque. Reports have also suggested that this powerplant will be accompanied by Maruti’s hybrid technology and will help in increasing the power output of the vehicle.

No official dates for the launch of the Maruti SUV have been announced as of yet, but we can expect to see the vehicle hitting the roads sometime during the Diwali season of this year. In terms of pricing, the model could be offered in the Rs. 10-18 Lakh range to compete with the likes of the current segment leaders.