Japan’s Suzuki Motor to invest .3 billion for electric vehicle production in India

Japan’s Suzuki Motor to invest $1.3 billion for electric vehicle production in India

The logo of Suzuki is witnessed on a wheel of Maruti Suzuki Vitara Brezza car

The logo of Suzuki is witnessed on a wheel of Maruti Suzuki Vitara Brezza car through its start in Mumbai, India, March 8, 2016. REUTERS/Danish Siddiqui/File Image

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TOKYO, March 19 (Reuters) – Japan’s Suzuki Motor (7269.T) plans to devote about 150 billion yen ($1.26 billion) to deliver electric vehicles and batteries in India, Japanese media claimed on Saturday.

Japanese Prime Minister Fumio Kishida is traveling to India on Saturday to meet his Indian counterpart Narendra Modi. Suzuki’s investment program will be component of an announcement by Kishida throughout his vacation of strategies to make investments 5 trillion yen in excess of the upcoming five yrs in India, according to the Nikkei business every day. read extra

Suzuki has resolved to establish a new electric powered car creation line in India with the purpose of starting up functions as early as 2025, Nikkei reported, with out identifying the supply of its report.

A Suzuki Motor spokesperson declined to confirm the stories.

($1 = 119.1700 yen)

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Reporting by Maki Shiraki and Chang-Ran Kim, Crafting by Ju-min Park Enhancing by Kenneth Maxwell

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