Maruti Suzuki, which is majority-owned by Suzuki Motor, will begin production of the EV from spring 2025 in its plant in the western Indian state of Gujarat.
Shares of Maruti Suzuki climbed about 4% to trade near the session's high after the announcement.
The platform for the EV was jointly developed by Suzuki, Toyota and Daihatsu Motor, according to the statement. The green vehicle has been developed by Suzuki.
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