Suzuki Motor to invest $8 billion in India over next 5-6 years

HANSALPUR, India :Japan’s Suzuki Motor will invest 700 billion rupees ($8 billion) in India over the next five to six years, the automaker’s CEO said on Tuesday, to increase production, launch new models and defend its market share in the world’s third-largest car market.

India is the biggest market by sales and revenue for Suzuki Motor, which has a presence there through its majority stake in market leader Maruti Suzuki.

Maruti’s plant in the western Indian state of Gujarat will become one of the largest automobile manufacturing hubs in the world, with a planned capacity of 1 million units, said Toshihiro Suzuki, who is also chairman of Suzuki Motor.

Maruti is slated to begin commercial production of its electric vehicles from this plant as of Tuesday and plans to export them to 100 countries.

Additionally, the car maker and its partners Denso and Toshiba also started production of lithium-ion cells for its hybrid cars.

($1 = 87.5060 Indian rupees)

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