Suzuki JV to invest ₹3,715 crore in second phase of battery venture
Fund part of ₹5,000-cr corpus to build India’s first EV lithium-ion battery manufacturing plant in Gujarat
The JV—Automotive Electronics Power Pvt. Ltd—is currently building the first phase at ₹1,214 crore
MUMBAI : Japan’s Suzuki Motor Corp. (SMC), Toshiba Corp. and Denso Corp. will jointly invest ₹3,715 crore in the second phase of their battery venture in Gujarat’s Hansalpur, a confidential company presentation showed. The investment, spread over 2021-25, is part of the ₹5,000-crore corpus that Suzuki announced in October 2019 to build India’s first lithium-ion battery manufacturing plant for EVs.