Suzuki Motor has announced that it plans to invest over INR 700 billion (US$ 8 billion) in its Indian operations over the next 5-6 years, as the Japanese automaker looks to double its production capacity in the country by the end of the decade.
The company’s CEO, Toshihiro Suzuki, discussed the automaker’s investment plans at an event held at its assembly plant in Hansalpur, in the western Indian state of Gujarat, to celebrate the recent launch of exports of the battery-powered eVitara SUV. At the event, which was attended by Indian Prime Minister Narendra Modi, Toshihiro Suzuki emphasized the growing importance of India, which has become the automaker’s largest global production hub and market.
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Suzuki’s local subsidiary, Maruti Suzuki India, pointed out that the Hansalpur facility “will shortly become one of the world’s largest automobile manufacturing hubs, with a planned production capacity of 1 million units.” The company confirmed that the plant will export the eVitara to more than 100 countries, including Japan and Europe, with the first shipment already headed to Europe.
Suzuki aims to double its production capacity in India to four million vehicles per year by the end of the decade, with its planned investments aimed at consolidating its dominant position in the local market, increasing exports, and expanding its EV operations in the country.
Suzuki recently began producing lithium-ion batteries in India in partnership with Toshiba and Denso, as it moved to strengthen its supply chain for its hybrid vehicles amid rising global trade tensions.
Maruti Suzuki’s chairman, R C Bhargava, confirmed that his company will rely on multiple technologies to cut vehicle emissions in its home market, including battery-powered and hybrid powertrains, and compressed natural gas (CNG). He pointed out that widespread adoption of battery-powered vehicles in India may take some time, saying “mass EV adoption needs mass affordability.”
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By GlobalData
