Japan’s Suzuki Motor will invest $ 1.3 Billion to produce EVs in India

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Japanese PM Fumio Kishida arrives in India on Saturday to meet Indian Prime Minister Narendra Modi

Japan’s Suzuki Motor plans to invest about 150 billion yen ($ 1.26 billion) in India to produce electric cars and batteries, Reuters reported on Saturday, citing Japanese media.

Japanese Prime Minister Fumio Kishida is coming to India on Saturday to meet Indian Prime Minister Narendra Modi. Suzuki’s investment plan Kishida will be part of an announcement of its plans to invest 5 trillion yen in India over the next five years, according to Nikkei Business Daily.

Suzuki has decided to build a new electric vehicle manufacturing line in India with the aim of starting work by early 2025, Nikkei reported. During his first visit to India since taking office and amid the ongoing Ukraine crisis, Japanese Prime Minister Fumio Kishida will hold bilateral talks with Prime Minister Narendra Modi during his two-day stay in New Delhi, as well as attend the 14th India-Japan Annual Conference. .

The last India-Japan Annual Summit was held in Tokyo in October 2018.

Kishidar’s visit to India is significant in the context of Western sanctions against Russia for its military operations in Ukraine, while major oil-consuming countries are keeping a close eye on the impact of the Ukraine crisis on oil prices.

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