Indian Prime Minister Narendra Modi and his counterpart from Japan Shinzo Abe have inaugurated the Suzuki Motor Gujarat Private Limited's vehicle manufacturing facilities and lithium ion battery manufacturing facility in Hansalpur in the state of Gujarat.
Motown India had reported on April 14, 2017 that Suzuki of Japan along with Toshiba and Denso would be setting up a manufacturing facility for lithium ion batteries in the state fo Gujarat.
CLICK HERE TO READ REPORT ON SUZUKI LITHIUM ION PROJECT
Japan’s Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation had recently signed an agreement to establish a joint venture company for production of automotive lithium-ion battery packs in India.
The joint venture company will have an initial capital expenditure of 20 billion Japanese yen (Rs 1185 crore approx.). The joint venture company will be capitalised at 2 billion Japanese yen, with the planned participation ratio of Suzuki 50%, Toshiba 40% and Denso 10% respectively.
The battery pack manufacturing joint venture by Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation will realise stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country and will contribute to “Make in India” initiative by the Indian Government.
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