Maruti Suzuki has announced an investment of Rs 38,200 crore in Gujarat. At the ongoing Vibrant Gujarat Summit 2024, Toshihiro Suzuki, President, Suzuki Motor Corporation, revealed the company's plans to invest Rs 35,000 crore for the setting up of a second manufacturing facility in the State, with an annual production capacity of 10 lakh units. This investment comes when the company is looking to ramp up its annual production capacity in Gujarat to over 40 lakh units by 2030-31. Expect this plant to begin operations in the financial year 2028-29.
Meanwhile, the remaining Rs 3,200 crore will go into Suzuki Motor Gujarat, in order to add a fourth production line capable of producing 2.5 lakh battery electric vehicles (BEVs) per year. This will increase the annual production capacity of Suzuki Motor Gujarat from the existing 7.5 lakh to 10 lakh units.
Also Read: Maruti Suzuki Total Sales Decline 1.28% in December, Sells 1.38 Lakh Units
Speaking of electric vehicles, in good news for EV fans, the first battery electric vehicle from Suzuki Group will be rolled out of Suzuki Motor Gujarat by the end of this year. Maruti Suzuki says that this model will be sold not just in India but also globally, including Japan and European countries.
A "multi-pathway" Approach
In addition to vehicle electrification, the company intends to take a "multi-pathway" approach to reducing greenhouse gas emissions. This means that the company will offer multiple options, such as compressed natural gas (CNG), biogas, bioethanol, and green hydrogen. "Taking advantage of India’s animal wealth, we will start production of biogas from cow dung".
"Together with the National Dairy Development Board, and Banas Dairy, Suzuki has already started construction of four biogas plants in Gujarat. Suzuki Group will always work to provide a variety of sustainable customer-oriented mobility options," said Toshihiro Suzuki.
Maruti Suzuki's Predictions for FY2024
While thanking PM Narendra Modi and his "progressive approach", Toshihiro Suzuki said that under the "strong" leadership of Modi, the Indian automobile market has been expanding steadily, and as a result, the nation has become the third largest automobile market in the world. "We have also scaled up production capacity substantially in India. It is noteworthy that as compared to 10 years ago, we expect 1.7 times in vehicle production and 2.6 times in export sales in the current fiscal year".
"Thanks to Prime Minister, Mr. Modi’s progressive approach and India’s growth, we will invest in the future also," said Toshihiro Suzuki.
Also Read: Upcoming Maruti Suzuki Cars in India: 2024 Swift, eVX SUV and More
Apart from Suzuki Motor Gujarat, Maruti Suzuki has two manufacturing plants – one in Gurugram and another in Manesar, both with an annual production capacity of around 13 lakh units.
Write your Comment