Suzuki Motor Corporation, the parent company of Maruti, has confirmed an investment of INR 10,440 crore in India to step up its EV plan.

The investment was confirmed through an MoU signed between Suzuki Motor Corporation and the Gujarat government at the ongoing India-Japan Economic Forum in New Delhi, India. Indian Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida were also present at the event.

As part of the MoU, Suzuki will also build a new factory for the manufacturing of EV batteries near its existing plant in Gujarat. It aims for the new factory to be up and running by 2025.

Suzuki will roll out its first all-electric SUV built at its Gujarat plant by 2025. This made-in-India electric SUV will be sold as a Maruti as well as a Toyota model in India, along with international markets.