Japan’s Suzuki Motor plans to invest $1.26 billion for the production of Electric Vehicles in India

According to reports, it is said that Japan’s Suzuki Motor plans to build an electric vehicle production in India.

Suzuki Motor Plans to invest in the production of electric vehicles and batteries for about 150 billion yen($1.26 billion) in India, Reported by Japanese Media.

Nikkei Bussiness daily reported, Suzuki has decided to build a new electric vehicle production line in the country to start the work as early as possible. This has been reported by Nikkei without finding the source of information.

Japan Prime Minister Fumio Kishida is visiting India on Saturday to meet Prime Minister Narendra Modi. According to Nikkei, it is said that Suzuki’s plan of investment will be announced by Kishida during his trip to India. Suzuki is also likely to invest 5 trillion yen over the next five years.

When it is asked for confirmation regarding the investment plan and the future investments, A Suzuki Motor Spokesperson declined to confirm the reports.