Suzuki Motor Corporation (SMC) has announced that it has signed an MoU with the state of Gujarat, India, to invest approximately 150 billion yen (approximately INR 10440 crore) for local manufacturing of electric vehicles (BEV) and BEV batteries.
The MoU was signed on 19 March 2022 at the India-Japan Economic Forum held in New Delhi, India, in the presence of Japanese Prime Minister Furnia Kishida and Indian Prime Minister Narendra Modi.
| Signees of MoU with the State of Gujarat | Description | Investment | Planned year |
| Suzuki Motor Gujarat (SMG) | Increasing production capacity for BEV manufacturing | INR 3,100 Crore | 2025 |
| Suzuki Motor Gujarat (SMG) | Construction of plant for BEV batteries (land neighbouring to SMG) | INR 7,300 Crore | 2026 |
| Maruti Suzuki Toyotsu India (MSTI) | Construction of vehicle recycling plant | INR 45 Crore | 2025 |
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation and Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited, were joined by senior government officials of India and Japan at the ceremony.
Speaking at the Forum, Toshihiro Suzuki said, 'Suzuki's future mission is to achieve carbon neutrality with small cars. We will continue active investment in India to realise self-reliant India (Atma-nirbhar Bharat).'