Suzuki to invest Rs. 38,200cr in Gujarat for another plant
What's the story
At the ongoing Vibrant Gujarat summit, Suzuki Motor Corporation's CEO, Toshihiro Suzuki, revealed a whopping Rs. 38,200 crore investment plan in Gujarat. As per the plan, Rs. 35,000 crore will be used for the construction of a second car plant in the state. The remaining Rs. 3,200 crore will be used to add a new production line of 2.5 lakh units per year.
Details
Suzuki is working on its electric vehicle plans
Suzuki also announced that the first battery electric vehicle from the company will be launched by year-end. This model will be available not only in India but also exported to Japan and Europe. "In the past 10 years, under the strong leadership and constant support of PM Modi, the Indian automobile market has been expanding steadily," CEO Suzuki said. Consequently, "Suzuki has also scaled up production capacity substantially in India," he added.
Twitter Post
Watch Suzuki Motors CEO's announcement
#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
What Next?
Current production capacity of Suzuki
Currently, Suzuki's total production capacity is around 22 lakh units per year across its two manufacturing plants in Haryana and Gujarat. The Haryana plants in Gurgugram and Manesar produce about 15.5 lakh units annually. Suzuki Motor Gujarat, a subsidiary of the company, has established a facility in Gujarat with a production capacity of 7.5 lakh units per year. A new manufacturing plant is being built in Sonipat, Haryana, with an initial investment of Rs. 11,000 crore.