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Maruti to invest ₹35,000 crore for second Gujarat plant, roll out first battery EV from state
Toshihiro Suzuki, President, Suzuki Motor Corp., made the announcements at the 2024 Vibrant Gujarat Global Summit.
Maruti Suzuki India (MSI) on Wednesday made a slew of announcements regarding its plans for Gujarat, with Toshihiro Suzuki, President, Suzuki Motor Corp., making these announcements during his address at the inauguration ceremony of the Vibrant Gujarat Global Summit (VGGS) 2024 in Gandhinagar.
The carmaker's plans for the state include a second manufacturing facility, in addition to the existing one in Hansalpur Becharaji.
“We will invest ₹35,000 crore for a second plant which would produce another one million units per year. The new plant is expected to open in FY 2028-29. Details of the location and the models to be produced will be shared in due course,” Suzuki said.
The automaker's annual production capacity from Gujarat, therefore, will increase to 2 million (20 lakh) units, with both the existing and upcoming facilities contributing equally.
Suzuki also announced that the group's maiden battery electric vehicle (BEV) too will come from Suzuki Motor Gujarat by the end of the year.
“We plan to sell this model not only in India, but also export to Japan and Europe. Also, in order to expand the BEV in future, we will invest ₹3200 crore in Suzuki Motor Gujarat to add a new fourth production line which can produce 2.5 lakh units per year,” he elaborated, adding that this fourth line is expected in FY 2026-27.
He further stated that already, the manufacturer has, in partnership with the National Dairy Development Board (NDDB) and Banas Dairy, started construction of four biogas plants in the state.
Maruti Suzuki India, a subsidiary of Japan's Suzuki Motor Corp., leads the Indian passenger car segment with a market share of 42%. Suzuki Motor has around 58% stake in MSI.
(With PTI inputs)
