Suzuki Motor will invest more than Rs 1,150 crore along with Japanese partners Toshiba and Denso to set up India’s first lithium-ion battery facility in Gujarat.
The announcement by the parent of the country’s largest carmaker, Maruti Suzuki is a major boost to the government’s ambitious vehicle electrification and Make in India initiatives. In the battery venture, Suzuki will hold half the stake, while Toshiba will own 40% and Denso the remaining 10%.
Important Takeaways from Above News-
- Osamu Suzuki is the chairman of Suzuki Motor.
Source- The Economic Times