Maruti Suzuki To Build EV-Battery Plant
INDIA REPORT
The development work has already been started on a project codenamed YY8 planned for 2024-2025.
Source: Economic Times. Read The Article
Major auto players in India like Tata Motors, MG Motors and Hyundai have already announced their investment plans in the electric vehicles sector, there wasn’t any formal announcement from Maruti Suzuki, India’s largest automaker. But now, the penny has dropped.
Suzuki Motor, parent of Maruti Suzuki, says it has signed a Memoranda of Understanding (MoU) with the Gujarat State government, and plans to invest Rs 10,440 crore in there to build an EV and battery factory. The MoU was signed at the India-Japan Economic Forum held in New Delhi.