# 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.

- Type: Acquisition
- Announced: 2017-04-14
- Where: India
- Value: $18.0M (2.00B JPY)
- Status: announced
- Products: automotive lithium-ion battery packs
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [DENSO](https://endata.com/companies/2901.md) (partner)
- [Toshiba](https://endata.com/companies/8893.md) (partner)
- [Suzuki Motor Corporation](https://endata.com/companies/23600.md) (partner)

## Sources

- [denso.com](https://www.denso.com/global/en/newsroom/news/2017/20170414-g01/), 2017-04-13: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.