Tokyo, March 19 (BNA) Japanese media said today, Saturday, that the Japanese Suzuki Motor Company (7269.T) plans to invest about 150 billion yen ($1.26 billion) to produce electric cars and batteries in India.
Japanese Prime Minister Fumio Kishida will visit India on Saturday to meet with his Indian counterpart Narendra Modi. Suzuki’s investment plan will be part of Kishida’s announcement during his trip of plans to invest 5 trillion yen over the next five years in India, according to the Nikkei Business Daily.
Nikkei said Suzuki has decided to build a new production line for electric cars in India with the goal of starting operation as early as 2025, without specifying the source of its report.
A Suzuki Motors spokesperson declined to confirm the reports.
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