This picture shows a logo of Japanese automaker Suzuki in Tokyo on March 10, 2021. (BEHROUZ MEHRI / AFP)

MUMBAI - Japan's Suzuki Motor Corporation will invest approximately $1.37 billion in India's western state of Gujarat to produce electric vehicles and EV batteries, said a corporate filing with the Bombay Stock Exchange Sunday.

According to a memorandum of understanding, Suzuki Motor Corporation's wholly owned Suzuki Motor Gujarat Pvt Ltd will spend 961 million dollars on the construction of a battery plant by 2026 and another 408 million dollars for ramping up production capacity for EVs by 2025.

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The group's another firm Maruti Suzuki Toyotsu India Pvt Ltd will invest 6 million dollars in building a vehicle recycling plant by 2025, the filing said.