 "R C Bhargava")
Maruti Suzuki India (MSIL) Chairman R C Bhargava on Wednesday made it clear that the announcement by Suzuki Motor Corporation (SMC) on Sunday about investing 150 billion yen (or Rs 10,445 crore) by 2026 for indigenous manufacturing of battery electric vehicles (BEV) and BEV batteries in Gujarat does not restrict the listed MSIL from making electric vehicles (EVs).
He said the fears stoked by proxy advisors that the move might not be beneficial to shareholders or that the company could become simply a distributor of products of Suzuki Motor Gujarat (SMG) — a wholly owned subsidiary of SMC — are ‘unfounded’.
“There
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