Suzuki, Toshiba, Denso to Start Lithium-Ion Battery Venture in India
The three companies said that they would spend a total of 20 billion yen ($183.74 million) to set up the company.
Suzuki Logo. (Photo: Reuters)
Suzuki Motor Corp, Toshiba Corp and Denso Corp said they would form a joint venture to produce lithium-ion batteries for automobiles in India, where auto emission regulations are tightening to deal with pollution problems.
The three companies said in a joint statement that they would spend a total of 20 billion yen ($183.74 million) to set up the company, which would be formed this year.
"The battery pack manufacturing joint venture by the three companies will realise stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country and will contribute to 'Make in India' initiative by the Indian government," they said.
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