These three giant Japanese corporations: Suzuki Motor Corporation (SUZUKI), Toshiba Corporation (TOSHIBA) the Denso Corporation (DENSO) have signed a joint agreement that establishes a common venture for the production of lithium-ion batteries in India.
Suzuki alongside their partners are trying to establish new environmental standards in India, a state in which there is a significant demand for the introduction of automotive technologies based on electricity, due to the widespread use of compact cars.
The production agreement will promote environmentally friendly electric cars, as well as provide India with lithium-ion batteries of the best quality.
The joint venture of Suzuki, Toshiba and Denso, will be already kick started as of 2017, the production is planned to be launched as soon as possible. On the first stages the invested sum has reached 20 billion yen. By calculating the conversion of income and assets into capital, Suzuki owns 50% of the assets, Toshiba 40% and Denso 10%.