Toshihiro Suzuki, global CEO of Suzuki Motor Corporation said that Maruti Suzuki will make an investment of Rs 38,200 crore in Gujarat; to make additional 1.25 million units of production capacity in the state.
Maruti Suzuki will be investing Rs 3300 crore in setting up 2.5 lakh units of electric vehicle production capacity in Suzuki Motor Gujarat and additionally Rs 35,000 crore in setting up of 1 million units capacity by Maruti Suzuki.
Addressing the gathering at 10th Global Summit of Vibrant Gujarat, Suzuki said, thanks to Prime Minister Mr Modi’s “progressive approach” and India’s growth, “We will invest in the future. Firstly, the first battery electric vehicle from Suzuki Group will be rolled out from Suzuki Motor Gujarat by the end of the year. We plan to sell this model not only in India, but also export to Japan and European countries.”
Secondly, the company will expand its BEV production in the future. Suzuki Group will invest Rs 3200 crore in Suzuki Motor Gujarat to add a new fourth production line which can produce 2.5 lakh units per year. This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 lakh units to 1 million units.
He reminded that under the leadership of Narendra Modi, the Indian automobile market has been expanding steadily, as a result, India has become the third largest market in the world.
“We have also scaled up production capacity substantially in India when compared to ten years ago. We expect 1.7 times in vehicle production, 2.6 times in exports in the current fiscal year,” stated Suzuki.
“We will invest Rs 35,000 crore for the construction of the second car plant in Gujarat which would produce another 1 million units per year. As a result, the annual production capacity in Gujarat will be 2 million units, namely, 1 million units at SMG and 1 million units at the second new plant,” stated Suzuki, sharing the Japanese car maker’s long-term commitment to the state and the country.