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The Japanese automaker Suzuki Motor Corporation has announced that it will invest around Rs 70,000 crore in India over the next five to six years. This investment will enhance the production, introduce new car models, and protect its leadership position in India, the world’s third-largest automobile market.
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The announcement was made by Suzuki Motor Corporation President Toshihiro Suzuki during the launch of Maruti Suzuki’s first electric SUV, the ‘e-Vitara,’ at the company’s Hansalpur plant in Gujarat.
The e-Vitara is said to be manufactured exclusively at Suzuki Motor Gujarat (SMG), a unit of Maruti Suzuki India, and will be exported to more than 100 countries. The first shipment will leave from Pipavav port for Europe, covering markets like the UK, Germany, France, Norway, and Italy, among others. While the electric SUV will also be exported to Japan.
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Over the years, the Japanese company has invested more than Rs 1 lakh crore in India and has created over 11 lakh direct jobs in its value chain. India is the biggest market for the company by sales and revenue, largely through its majority-owned subsidiary, Maruti Suzuki, the country’s top carmaker.
The company has affirmed that the step is a strong push towards ‘Atmanirbhar Bharat,’ and the company will follow a ‘multi-powertrain strategy’ to meet its carbon neutrality goals. This includes electric vehicles, strong hybrids, ethanol flex-fuel vehicles, and compressed biogas.
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