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Suzuki Forms JV in India to Make Lithium-Ion Batteries
Suzuki Motor Corp. says it has agree to launch a lithium-ion batterymaking venture in India by the end of this year with Toshiba Corp. and Denso Corp.
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Suzuki Motor Corp. says it has agree to launch a lithium-ion batterymaking venture in India by the end of this year with Toshiba Corp. and Denso Corp.
Suzuki will own 50% of the unnamed venture, and its partners each will hold 25% stakes. The initial capital expenditure by the trio will be 20 billion yen ($184 million).
The partners say it will take at least 18 months to erect a factory and begin production. Most of the initial output will be used by Maruti Suzuki India Ltd., which controls about 40% of India’s passenger-car market.
But the partners say they also want to establish a local source for batteries that could be supplied to other carmakers. Demand for batteries for hybrid and all-electric vehicles is expected to surge as India strives to improve its air quality.
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