Suzuki, Toshiba, Denso Join Hands To Make Lithium-Ion Batteries In India

The joint venture company will be established within 2017 and shall move to manufacturing phase at the earliest. The initial capital expenditure will be 20 billion Japanese yen. The joint venture company will be capitalized at 2 billion Japanese yen, with the planned participation ratio of Suzuki 50%, Toshiba 40% and Denso 10% respectively.

The establishment of the joint venture company will be further examined in details by the three companies, and subject to approval by respective authorities in accordance with applicable competition laws. The tie-up would be a big boost to the Indian automotive infrastructure where companies are moving towards manufacturing electric vehicles and source batteries, especially lithium-ion batteries. A joint venture like this will certainly boost these prospects in India.