Suzuki to invest $8 billion in India, starts EV production
Suzuki’s Hansalpur plant in Gujarat, from where the company will be making its first e VITARA SUVs, is expected to become one of the world’s largest automobile manufacturing hubs with a planned capacity of 1 million units.
Suzuki Motor plans to invest over USD 8 billion in India over a period of five to six years, the Japanese company’s CEO Toshihiro Suzuki announced.
Suzuki’s Hansalpur plant in the western state of Gujarat, from where the company will be making its first e VITARA SUVs, “will shortly become one of the world’s largest automobile manufacturing hubs, with a planned capacity of 1 million units,” he said.
“The e VITARA, our first BEV, will be manufactured here at this Gujarat facility and exported to over 100 countries and regions worldwide, including Europe and Japan. The lithium-ion batteries used in our hybrid models are manufactured at TDSG, which contributes to ‘Make in India’,” said CEO Toshihiro Suzuki, according to a media release. “Suzuki has partnered in India’s mobility journey for over four decades. We remain committed to supporting India’s vision for sustainable green mobility and contributing to the further development of India.”
TDSG, a joint venture established by Suzuki, Toshiba Corporation and Denso Corporation to manufacture automotive lithium-ion batteries, began production of batteries for strong hybrid vehicles. The batteries are installed in the Grand Vitara, and scheduled to be introduced to other models in the future, the media release said.
Maruti Suzuki India, the local unit of the automobile giant, aims to double production capacity in India to 4 million units by the end of this decade, according to a Bloomberg report.
EV sales growth in India is still outpacing the overall car market, and electric models account for approximately 4.5% of all cars sold in the current fiscal year from April 1, according to a Reuters report. The Indian government has a target a 30% share by 2030.
