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Suzuki JV to invest Rs 3,715 cr battery venture

24/01/2020 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Suzuki JV

Japan’s Suzuki Motor Corp. (SMC), Toshiba Corp. and Denso Corp. will jointly invest Rs 3,715 crore in the second phase of their battery venture in Gujarat’s Hansalpur.
 
According to an report carried by business daily Mint, the investment, spread over 2021-25, is part of the Rs 5,000-crore corpus that Suzuki announced in October 2019 to build India’s first lithium-ion battery manufacturing plant for EVs.
 
The joint venture, called Automotive Electronics Power Pvt Ltd (AEPPL), is currently building the first phase at Rs 1,214 crore. According to the presentation, seen by Mint, the first phase (2018-20) is expected to start production by end-2020.
 
AEPPL is a partnership between Suzuki (50 pc), Toshiba (40 pc) and Denso (10 pc), to manufacture 30 million lithium ion cells locally per year by 2025, with a production capacity of more than 1GWh.
 
“These batteries could be deployed in pure electric vehicles, hybrids and even in electric two-wheelers," said an independent consultant, requesting anonymity. SMC’s two-wheeler arm, Suzuki Motorcycle India is already developing a prototype electric scooter for India and plans to start testing it in 2020.
 
When contacted by Mint, Maruti Suzuki India Ltd, a subsidiary of SMC, declined to comment on the plan.
 
Suzuki, Toshiba and Denso had announced their joint venture in April 2017 to develop and manufacture lithium-ion batteries for automotive applications. In September 2017, Prime Minister Mr Narendra Modi and his Japanese counterpart Mr Shinzo Abe had laid down the foundation for the plant.
 
Even as AEPPL is leading in setting up the manufacturing ecosystem for EVs in India, home-grown carmakers Mahindra and Mahindra Ltd (M&M), and Tata Motors Ltd (TML) have teamed up with other companies to become major players in this space. M&M has collaborated with Korea’s LG Chem, which will develop high energy density lithium-ion cells for local applications, and is setting up a plant at Chakan near Pune.
 
Tata Motors, on the other hand, is tapping group companies, including Tata Chemicals Ltd, to develop its own lithium-ion technology. Tata AutoComp Systems Pvt. Ltd, Tata Power Ltd and Tata Consultancy Services Ltd are also participating in the initiative.
 
With one assembly line in phase 1, AEPPL has drawn up a blueprint to gradually add four more battery assembly lines under Phase 2. While the second standard operating procedure (SOP) is tentatively planned for 2021-22, the joint venture will issue SOPs for each of the four additional lines during the four-year period. The project is estimated to provide employment to about 1,000 people by 2025.
 

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