Resource detail

Suzuki Motor Corp will invest 4.5 trillion yen ($34.8 billion) through fiscal 2030 in research, development and capital spending to make battery electric vehicles (EVs). The Japanese automaker known for making compact "kei" cars said it would invest 2 trillion yen in electrification and autonomous driving technologies, while allocating 2.5 trillion yen to build a battery EV plant and for renewable energy facilities. Of the money earmarked for electrification, 500 billion yen would be invested in batteries, it said. Suzuki plans to introduce battery EVs in Europe and India, and its first battery electric motorcycles globally, the following year. The company is aiming to leverage its cooperation with car giant Toyota Motor Corp to capture a bigger share of India's budding EV market, which is gaining momentum.