Suzuki to Invest $35 Billion in EVs Through 2030, Will Introduce Electric Vehicles in India and Europe

Suzuki Motor will invest JPY 4.5 trillion (roughly Rs. 2,85,614 crore) through fiscal 2030 in research, development and capital spending to make battery electric vehicles (EVs), it said on Thursday.

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The Japanese automaker known for making compact "kei" cars said it would invest JPY 2 trillion in electrification and autonomous driving technologies, while allocating JPY 2.5 trillion (roughly Rs. 1,56,915) to build a battery EV plant and for renewable energy facilities.

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Of the money earmarked for electrification, JPY 500 billion (roughly Rs. 31,380 crore) would be invested in batteries, it said.

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Suzuki's announcement comes after other Japanese automakers have rolled out similar goals to catch up with European and US rivals in the fast-growing battery EV market.

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Mazda Motor unveiled in November a $10.6 billion (roughly Rs. 86,460 crore) spending plan to electrify its vehicles.

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Suzuki said it would introduce its first battery EVs, including small sport-utility vehicles and micro "kei" cars, in Japan in fiscal 2023. With cost-conscious customers in mind, company president Toshihiro Suzuki said he wanted to sell vehicles for around JPY 1 million (roughly Rs. 6,27,400).

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Suzuki to Invest $35 Billion in EVs Through 2030, Will Introduce Electric Vehicles in India and Europe

Suzuki plans to learn from Toyota how to use EV technology to make small electric cars, the firm said during a visit to India this month,

Brought to you by Trickyenough

Suzuki Motor will invest JPY 4.5 trillion (roughly Rs. 2,85,614 crore) through fiscal 2030 in research, development and capital spending to make battery electric vehicles (EVs), it said on Thursday.

Brought to you by Trickyenough

The Japanese automaker known for making compact "kei" cars said it would invest JPY 2 trillion in electrification and autonomous driving technologies, while allocating JPY 2.5 trillion (roughly Rs. 1,56,915) to build a battery EV plant and for renewable energy facilities.

Brought to you by Trickyenough

Of the money earmarked for electrification, JPY 500 billion (roughly Rs. 31,380 crore) would be invested in batteries, it said.

Brought to you by Trickyenough

Suzuki's announcement comes after other Japanese automakers have rolled out similar goals to catch up with European and US rivals in the fast-growing battery EV market.

Brought to you by Trickyenough

Mazda Motor unveiled in November a $10.6 billion (roughly Rs. 86,460 crore) spending plan to electrify its vehicles.

Brought to you by Trickyenough

Suzuki said it would introduce its first battery EVs, including small sport-utility vehicles and micro "kei" cars, in Japan in fiscal 2023. With cost-conscious customers in mind, company president Toshihiro Suzuki said he wanted to sell vehicles for around JPY 1 million (roughly Rs. 6,27,400).

Brought to you by Trickyenough