Suzuki-led JV to invest $517m in second phase of Indian lithium-ion factory

A joint venture with Japanese peers Toshiba and Denso will make the investment in the Gujarat plant over the 2021-25 period, having pumped $174 million into the first phase of development.

Japanese joint venture Automotive Electronics Power Private Ltd (AEPPL) will invest Rs37.15 billion ($517 million) in the second phase of its lithium-ion battery production facility at Hansalpur, in the Ahmedabad district of the state of Gujarat, according to a report in Indian financial daily newspaper Mint.

The joint venture set up by Suzuki Motor, Toshiba and Denso will commit the investment over the 2021-25 period, following a first-phase outlay of Rs12.5 billion to finance production lines for battery packs and modules by the end of the year. AEPPL aims to expand plant output to 30 million cells per year by 2025.

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