Maruti Suzuki India Ltd will procure lithium-ion battery packs from a newly formed joint venture (JV) between Suzuki Motor Corp., Toshiba Corp. and Denso Corp. as the country’s largest carmaker looks to build a portfolio of hybrid cars. The all-Japanese joint venture company will be established this year and will start production soon thereafter. The initial capital expenditure will be 20 billion Japanese yen (around $184 million).The joint venture company will be led by Suzuki, which will hold a 50% share. Toshiba and Denso will have 40% and 10%, respectively.
Maruti Suzuki to procure battery packs from Suzuki JV in hybrid cars push
Date posted: Monday 1 May 2017