Suzuki Invests $8 Billion in India to Boost EV Production and Exports
Suzuki Motor Corporation has revealed a significant investment of 700 billion Indian rupees (around 8 billion USD) in its Indian operations over the next five to six years. The announcement comes as the company seeks to strengthen its position in the Indian market and expand its electric vehicle (EV) operations.
The investment will be used to enhance Suzuki's supply chain, with the company having already started producing lithium-ion batteries in India in partnership with Toshiba and Denso. This move is aimed at supporting the production of hybrid vehicles.
Suzuki's Hansalpur plant in Gujarat is set to play a pivotal role in these plans. The facility is expected to become one of the world's largest automobile manufacturing hubs, with a planned production capacity of 1 million units. The plant will also export the eVitara SUV to over 100 countries, including India and Europe.
The company's ambition is to double its production capacity in India to four million vehicles per year by the end of the decade. To achieve this, Suzuki plans to use multiple technologies to reduce vehicle emissions, including battery-powered and hybrid powertrains, and compressed natural gas (CNG). However, the widespread adoption of battery-powered vehicles in India is expected to take time due to affordability concerns.
With this substantial investment, Suzuki Motor Corporation is positioning itself for significant growth in the Indian market and beyond. The company's plans to expand its production capacity and export capabilities, coupled with its commitment to reducing emissions, highlight its long-term vision for the region.
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