Suzuki Motor Corp Makes BIG Announcements, To Invest $4 Billion To Set Up 2nd Car Plant In State

Suzuki Motor Corp Makes BIG Announcements, To Invest $4 Billion To Set Up 2nd Car Plant In State

Written by: Analiza Pathak Edited by: Analiza Pathak

Updated: January 10, 2024, 12:29 PM IST

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https://www.india.com/car-and-bike/suzuki-motor-makes-big-announcements-to-invest-4-billion-to-set-up-2nd-car-plant-in-state-toshihiro-suzuki-vibrant-gujarat-summit-6645000/ Copy

Maruti Suzuki

Toshihiro Suzuki, global CEO of Suzuki Motor Corporation has announced an investment of Rs 38,200 crore  ($4.21 billion) in Gujarat to set an additional 1.25 million units production capacity in the state. He made this announcements at the ongoing Vibrant Gujarat summit.

The company will also be investing Rs 3300 crore in setting up 2.5 lakh units electric vehicle production capacity in Suzuki Motor Gujarat and additionally Rs 35000 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.”

#WATCH | Gujarat: President Suzuki Motors, Toshihiro Suzuki says, “The first Battery Electric Vehicle from Suzuki group will be rolled out from Suzuki Motor Gujarat by the end of this year. We plan to sell this model not only in India but also export to Japan and European… pic.twitter.com/S8Jwrqnj0J

— ANI (@ANI) January 10, 2024

Currently, the auto major has a cumulative production capacity of around 22 lakh units per annum across its two manufacturing plants in Haryana and Gujarat. The two plants in Haryana — Gurgugram and Manesar — together roll out around 15.5 lakh units per annum.

Suzuki Motor Gujarat, a unit of the company, has also set up a facility in Gujarat with an installed production capacity of 7.5 lakh units per year.

Besides, the car market leader is already in the process of setting up a new manufacturing plant at Sonipat in Haryana with an investment of Rs 11,000 crore in the first phase.

The new plant’s first phase with a manufacturing capacity of 2.5 lakh units per annum is expected to be commissioned by next year.