NEW DELHI: Japan’s Suzuki Motor Corporation (SMC) has signed a memorandum of understanding (MOU) with the State of Gujarat to invest approximately 150 billion yen (approximately Rs 10,440 crore) for local manufacturing of electric vehicles (BEV) and BEV batteries.
The MOU was signed on 19 March 2022 at India-Japan Economic Forum held in New Delhi in the presence of Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi. Fumio Kishida, who was on a two-day trip to India on Saturday had announced a 5 trillion yen ($42 billion) investment in India over the next five years during a meeting with Narendra Modi.
