New Delhi: Japanese automaker Suzuki Motor Corporation on Tuesday announced plans to invest ₹70,000 crore in India over the next five to six years to expand production, launch new car models, and strengthen its leadership in the world’s third-largest automobile market.
The announcement came from Suzuki Motor Corporation President Toshihiro Suzuki during the launch of Maruti Suzuki’s first electric SUV, the e-Vitara, at the company’s Hansalpur plant in Gujarat. Prime Minister Narendra Modi flagged off the first batch of the electric SUVs at the inauguration ceremony.
The e-Vitara will be manufactured exclusively at Suzuki Motor Gujarat (SMG) and exported to over 100 countries, including the UK, Germany, France, Norway, Italy, and Japan. The first shipment will depart from Pipavav port for Europe.
Suzuki highlighted that the Gujarat facility is being developed into one of the world’s largest automobile hubs with a planned annual capacity of 1 million units. Calling the launch a “historic day” coinciding with Ganesh Chaturthi, Toshihiro Suzuki praised Prime Minister Modi’s leadership in advancing India’s green mobility vision.
Over the last four decades, Suzuki has invested more than ₹1 lakh crore in India, creating over 1.1 million jobs across its value chain. India remains Suzuki’s largest market by sales and revenue, primarily through Maruti Suzuki, the country’s top carmaker.
In addition to the e-Vitara launch, Suzuki also started production of India’s first lithium-ion battery and cell with electrode-level localisation. These batteries, essential for hybrid vehicles, will now be made in India with only raw materials and certain semiconductor parts imported from Japan.
The company reaffirmed its commitment to Atmanirbhar Bharat and said it will pursue a multi-powertrain strategy that includes electric vehicles, strong hybrids, ethanol flex-fuel cars, and compressed biogas vehicles to meet carbon neutrality goals.
Following the announcement, shares of Maruti Suzuki India Limited rose by 1.04% in intra-day trading, reaching ₹14,608.10.
With inputs from IANS