Suzuki, Toshiba and Denso agree to form battery pack joint venture in India

Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation reached a basic agreement to establish a joint venture company in India to produce automotive lithium-ion battery packs. The joint venture will be capitalized at 2 billion yen, with Suzuki holding 50%, Toshiba 40% and Denso 10%, and initial capital expenditure of 20 billion yen.

“The battery pack manufacturing joint venture by the three companies will realize stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country.”denso.com

• 1 source
• denso.comSUZUKI, TOSHIBA and DENSO reached basic agreement to establish joint venture company for production of automotive lithium-ion battery packs in India | News | DENSO Global WebsiteApr 13, 2017

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