Suzuki Motors and its partners from Japan Toshiba and Denso will jointly set up first Lithium Ion battery unit of India at an investment of Rs. 1,150 Crore. The battery unit will be established in Gujarat state.
This will give a great boost to government of India’s initiatives such as electrifying of vehicles and most ambitious Make in India initiative.
Out of the 100% stakes Suzuki will hold half that is 50% and 40% and 10% will be owned by Toshiba and Denso respectively.
This joint venture would leverage India as a base for manufacturing batteries, which would be mounted on hybrid vehicles and sold in the local and export markets.
Osamu Suzuki the chairman of Suzuki Motors also promised to invest Rs 3,800 Crore in its car manufacturing unit at Hansalpur near Ahmedabad to enhance the capacity. It is the same unit where rechargeable batteries for electric and hybrid vehicles will be manufactured.
