Suzuki Motor Corp.'s logo is pictured at the 45th Tokyo Motor Show in Tokyo.
The Japanese automaker said that it would invest 2 trillion yen to enable electrification and autonomous driving technologies, while allocating 2.5 trillion yen to build battery electric vehicle plant and renewable energy facilities.
Suzuki is going to introduce its first battery electric vehicle in Japan in the financial year 2023, and in Europe and India in the financial year 2024. It is looking to introduce its first battery electric motorcycles in the financial year 2024.
Suzuki is hoping to capture a bigger share of India's emerging EV market, which is gaining momentum because of its cooperation with car giant Toyota.
Suzuki plans to learn from Toyota how to make small electric cars, said Toshihiro Suzuki, president of Suzuki, during a visit to India this month, signalling the firm's readiness to expand its footprint in India's EV market.