Suzuki Motors to invest Rs 35,000 crore for new manufacturing plant in Gujarat
Toshihiro Suzuki, global CEO of Suzuki Motor Corporation, announced an investment of Rs 38,200 crore in Gujarat during the ongoing Vibrant Gujarat conference. Suzuki Motor Corporation, the Japanese automobile manufacturing giant, plans to invest Rs 35,000 crore in establishing a new car manufacturing plant in Gujarat, as well as Rs 3,200 crore in establishing a 2.5 lakh-unit electric vehicle production capacity at the existing Suzuki Motor Gujarat plant.
Toshihiro Suzuki, outlined their plans during the summit beginning, announcing the introduction of the first electric car from the Gujarat facility before the end of the year. This model will not only be aimed at the Indian market but will also be marketed to Japan and different European nations, allowing them to grow their worldwide influence.
He also claimed that the Indian vehicle business has been gradually developing under Prime Minister Narendra Modi's strong leadership and persistent backing for manufacturing companies. As a result, India has risen to become the world's third-largest vehicle market.
The new production line is expected to produce an additional 2.5 lakh units per year, greatly increasing Suzuki Motor Gujarat's existing production capacity of 7.5 lakh units per year to 10 lakh units per year.
Concurrently, the development of a second automobile facility in Gujarat is planned to increase the company's production by 10 lakh cars per year. Suzuki Motors' entire yearly manufacturing capacity in Gujarat would be increased to a significant 20 lakh units as a result of this development.
Maruti Suzuki India Limited has previously announced plans to open a fifth vehicle manufacturing unit as part of its vision to treble its production capacity to 4 million by 2030-31. Apart from the Suzuki Motor Gujarat facility, Maruti Suzuki now has two production facilities: one in Manesar and one in Gurugram.
Maruti Suzuki now offers 18 different models in India. The company expects to debut its first battery electric vehicle in India in 2024-25, followed by five more by the end of the decade.
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