Suzuki would spend Rs30,000 billion on two new units

29 Aug 2022 , 08:11 AM

The foundation stones for a new car manufacturing facility in Haryana and the forthcoming electric cell plant in Gujarat for Suzuki Motor Corporation were placed by Prime Minister Narendra Modi. Over Rs30,000 crore will be invested in the two projects.

At a celebration marking 40 years since Suzuki Motor Corporation of Japan and former Maruti NSE-0.18% Udyog signed a joint venture agreement, officially launching the Japanese automaker’s presence in India. In October 1982, the deal was formally signed.

By 2026, the factory in Hansalpur, Gujarat, will be fully operational and produce cells for the company’s Indian-made electric vehicles (EVs). An investment of around Rs 10,400 crore will be required. Hansalpur is home to a joint venture between Toshiba, Densu, and Suzuki that produces cells for export as well as for hybrid automobiles that Maruti Suzuki NSE-0.18% and Toyota will assemble locally.

In contrast, the new Maruti Suzuki plant in Kharkhoda, Haryana, will produce gasoline and electric vehicles with a capacity of one million units per year. The factory will require a Rs20,000 crore investment.

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