Suzuki Motor Corporation may be one of the latecomers to the electric vehicle market, but aims to go full throttle once it enters the EV game.
In fact, Autocar India has reported that Maruti-Suzuki together with Toyota are already working on a product offensive in the EV space, with a mid-size SUV set to debut by 2025.
Suzuki Motor Corp. is planning to invest up to 150 billion yen ($1.26 billion / Rs 9,561 crore) to build a new factory in Gujarat to make EV batteries by 2026 according to a Nikkei report.
Following the battery and Nexa lines of cars, the Mandal Becharaji area of Gujarat has become Suzuki’s new hub for developing new technology and staying ahead of the curve.
Suzuki plans to spend a total of 2.2 trillion yen on R&D and capital investment over the next five years, according to the Nikkei report. Around 1 trillion yen will be spent on R&D, the majority of which will go toward the development of EVS.
In India and Japan, the company is expected to release affordable electric vehicle models.