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Suzuki boss expects rocky road to sub-$15,000 electric minicar

Rising materials costs pose high hurdle even with subsidies and pared specs

Suzuki Motor President Toshihiro Suzuki spoke with reporters at the automaker's headquarters in the central Japanese city of Hamamatsu. (Photo by Toshihide Takeda) 

HAMAMATSU, Japan -- Keeping the price tag on Suzuki Motor's upcoming electric commercial minivehicle below 2 million yen ($15,000) with subsidies as originally planned will be "difficult," the company's president told reporters recently.

"There are points where it's conceivable if we compromise more" on the specifications, "but based on our current thinking, I feel it will be difficult to realize the 1 million yen range," President Toshihiro Suzuki said. The new model is scheduled for release in fiscal 2023, which begins in April.

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