Vibrant Gujarat Summit: Suzuki Motors to invest Rs 35,000 crore in 2nd plant; Rs 3,200 for new production line

Vibrant Gujarat Summit: Suzuki Motors to invest Rs 35,000 crore in 2nd plant; Rs 3,200 for new production line



Vibrant Gujarat Summit 2024 investment boost: Japanese carmaker Suzuki Motors has announced its plans to make significant investments in Gujarat. The company will invest Rs 3,200 crore in a new production line at its existing plant in Gujarat, and an additional Rs 35,000 crore in a second plant in the state.
The President of Suzuki Motors, Toshihiro Suzuki, revealed that the company is aiming to launch its first electric vehicle from the Gujarat plant before the end of this year.He further added that the company intends to not only sell this electric vehicle model in India but also export it to Japan and some European countries.
According to an ET report, the new production line will have the capacity to manufacture an additional 2.5 lakh units per year, increasing the annual production of Suzuki Motor Gujarat from the current 7.5 lakh units to 10 lakh units annually.
Furthermore, the construction of a second car plant in Gujarat will likely result in an additional production capacity of 10 lakh units per year for Suzuki Motors. This will bring Suzuki Motors’ total annual production capacity in Gujarat to around 20 lakh units.
Suzuki Motors’ investment in Gujarat is a strategic move, considering India’s thriving auto market. The company’s subsidiary, Maruti Suzuki, is already the top carmaker in India in terms of sales.
The 10th edition of the Vibrant Gujarat Global Summit 2024 has kicked off today and will run from January 10 to January 12, 2024.
Addressing the Vibrant Gujarat Global Summit 2024, Adani Group’s Gautam Adani announced that the group will invest $24 billion in the state of Gujarat over the next 5 years. Reliance Industries Chairman Mukesh Ambani also said that the Reliance group will continue to play a leading role in Gujarat’s growth story.





Source link

post a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.