Japanese carmaker Suzuki Motor Corporation on Wednesday announced its plans to invest Rs 3,200 crore in Gujarat to add a new production line of 2.5 lakh units per year. Moreover, the company intends to infuse Rs 35,000 crore for the construction of a second car plant in the state.
The announcement was made by Suzuki Motor Corp's President Toshihiro Suzuki at the Vibrant Gujarat Summit, 2024.
"In the past ten years, under the strong leadership and constant support of PM Modi, the Indian automobile market has been expanding steadily. As a result, India has become the third-largest automobile market in the world. Suzuki has also scaled up production capacity substantially in India," Toshihiro Suzuki said.
He also added 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 countries," he said.
The new production line will produce an additional 2.5 lakh units every year, he said. This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 Lakh to 1 million units.
Highlighting the India plans, Toshihiro Suzuki further mentioned that the company will invest Rs 35,000 crore for the construction of a second car plant in Gujarat, which would produce another 1 million units per year.
As a result, the total annual production for Suzuki in Gujarat will be 2 million units per year.
The tenth edition of the Vibrant Gujarat Global Summit, which is being held from January 10 to 12, was inaugurated by Prime Minister Narendra Modi today.
The VGGS is a global forum for business collaboration, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. There are 34 partner countries and 16 partner organisations for this year's summit, according to an official statement.
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