Suzuki, Toshiba and Denso to establish company to produce lithium-ion batteries in India

Suzuki in partnership with Toshiba and Denso has signed a JV to form a company to produce automotive lithium-ion batteries in India. The details pertaining to the JV are still sketchy, but it has been confirmed that the company will be set up this year itself. 

As the world moves towards electric and hybrid vehicles, the need to produce affordable lithium-ion batteries will become quite significant. The company, in a statement, has said that In India, higher attention is being paid to environment and plans are afoot to introduce new CO2 standards for automobiles. In the Indian automotive market where compact cars are the mainstream models, introduction of sustainable technology suitable for such affordable cars is required. The battery pack manufacturing joint-venture by the three companies will realise a stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country. This will also contribute to the ´Make in India´ initiative by the Indian Government.

The joint venture company will be capitalised at two billion Japanese yen, with a planned participation ratio of Suzuki at 50 per cent, TOSHIBA at 40 per cent and DENSO at 10 per cent respectively.