Suzuki's Big News: $4 Billion Investment Announcement for a 2nd Car Plant in Gujarat

In a major development at the ongoing Vibrant Gujarat summit, Toshihiro Suzuki, the global CEO of Suzuki Motor Corporation, revealed the company's ambitious plan to invest $4.21 billion (Rs 38,200 crore) in Gujarat. The investment aims to establish an additional 1.25 million units production capacity, marking a significant leap for the Suzuki's operations in the state.

Driving Into the Future: A Shift in Suzuki's Strategy

Suzuki Motor Corporation is not just stopping at expanding its conventional production capabilities. The company is also set to invest Rs 3300 crore in establishing a 2.5 lakh units electric vehicle production capacity at Suzuki Motor Gujarat. Additionally, a whopping Rs 35000 crore will be poured into setting up a 1 million unit capacity by Maruti Suzuki, emphasizing the growing significance of the electric vehicles in Suzuki's global strategy.

Addressing the gathering at the 10th Global Summit of Vibrant Gujarat, Toshihiro Suzuki credited Prime Minister Modi's "progressive approach" and India's impressive growth for the decision to invest in the future. He highlighted that the first battery electric vehicle from the Suzuki Group would roll out from Suzuki Motor Gujarat by the end of the year. Moreover, Suzuki also aims to not only serve the Indian market but also plans to export this model to Japan and other European countries.

Elevating Production Capacities

Currently boasting a cumulative production capacity of around 22 lakh units per annum across its plants in Haryana and Gujarat, Suzuki Motor Corporation is making progress in elevating its production capabilities. The two plants in Haryana, together producing approximately 15.5 lakh units per annum, are complemented by Suzuki Motor Gujarat, with an installed production capacity of 7.5 lakh units per year.

Suzuki's expansion doesn't end just here as the company is already in the process of setting up a new manufacturing plant at Sonipat in Haryana. This new facility, with an initial investment of Rs 11,000 crore, is set to have a manufacturing capacity of 2.5 lakh units per annum in its first phase, expected to be commissioned by the next year.

Paving the Way for an Electrifying Future

President of Suzuki Motors, Toshihiro Suzuki, emphasized Suzuki's commitment to the electric vehicle market. He announced a further investment of Rs 3200 crore in Suzuki Motor Gujarat to add a new 4th production line, capable of producing 2.5 lakh units per year. This move will elevate Suzuki Motor Gujarat's annual production capacity from the current 7.5 lakh to an impressive 1 million units, underscoring the company's dedication to a sustainable and electrifying future.

Also Read: Maruti Suzuki Unveils Futuristic Vision at Vibrant Gujarat: Flying Car and Updated eVX Prototype Steal the Show

Verdict

As Suzuki Motor Corporation propels itself into a new era, the automotive industry eagerly watches the unfolding of these monumental investments that are set to reshape the landscape of car manufacturing in India and beyond.