Maruti Suzuki gains as carmaker decides to make electric vehicles in India

Economic Times: Shares of Maruti Suzuki were trading marginally higher in early trade on last Friday after the carmaker’s Japanese parent, Suzuki Motor, decided to make electric cars at its factory in Gujarat for India and the world.

It will also be the first commercially-available electric carfor Suzuki, TOI reported. At 10:30 hours (IST), the scrip was trading 0.28 percent higher at Rs.8,094 level in an otherwise weak market.
The Japanese automaker had once showcased an all-electric version of Swift (called Swift REEV, or Range Extender) around 2010. However, this was never commercially produced. Suzuki will use the country as a key global manufacturing base, the TOI report said.

“For the last 35 years, we have been working towards ‘Make in India’ with you all,” Suzuki Chairman Osamu Suzuki said at a business leaders’ meet in Gujarat, where PM Narendra Modi and his Japanese counterpart Shinzo Abe were present.