Japan’s Suzuki Motor to invest $1.3 billion for electrical car production in India

© Reuters. SUBMIT IMAGE: The logo design of Suzuki is seen on a wheel of Maruti Suzuki Vitara Brezza automobile throughout its launch in Mumbai, India, March 8, 2016. REUTERS/Danish Siddiqui/File Photo

TOKYO (Reuters) -Japan’s Suzuki Motor prepares to invest about 150 billion yen ($1.26 billion) to produce electrical automobiles and batteries in India, Japanese media reported on Saturday.

Japanese Prime Minister Fumio Kishida is going to India on Saturday to fulfill his Indian equivalent Narendra Modi. Suzuki’s financial investment strategy will become part of a statement by Kishida throughout his journey of strategies to invest 5 trillion yen over the next 5 years in India, according to the business daily.

Suzuki has actually chosen to develop a brand-new electrical car assembly line in India with the objective of beginning operations as early as 2025, Nikkei stated, without recognizing the source of its report.

A Suzuki Motor representative decreased to validate the reports.

($1 = 119.1700 yen)

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