24, February, 2024
HomeAutomobilesMaruti Suzuki India Unveils Rs 35,000 Crore Investment for New Gujarat Plant and Electric Vehicle Production

Maruti Suzuki India Unveils Rs 35,000 Crore Investment for New Gujarat Plant and Electric Vehicle Production

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Maruti Suzuki India (MSI) has laid out ambitious plans to invest Rs 35,000 crore in establishing its second manufacturing facility in Gujarat, marking a significant step towards expanding its annual production capacity to over 40 lakh units by the fiscal year 2030-31.

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Suzuki Motor Corporation President Toshihiro Suzuki announced this substantial investment during the 10th Vibrant Gujarat Global Summit (VGGS) on January 10. The new plant, expected to commence operations in the fiscal year 2028-29, is projected to have an installed production capacity of 10 lakh units per annum.

This expansion will contribute to a total annual production capacity of 20 lakh units in Gujarat, with 10 lakh units at Suzuki Motor Gujarat and an additional 10 lakh units at the new plant. The specific details regarding the plant’s location and the models to be produced will be disclosed in the near future.

As part of Maruti Suzuki’s forward-looking strategy, the company will venture into the electric vehicle (EV) segment. The group’s first battery electric vehicle (BEV) is set to be manufactured at Suzuki Motor Gujarat by the year’s end. Maruti Suzuki intends not only to sell this BEV in India but also to export it to Japan and Europe.

To support the production of BEVs, a substantial investment of Rs 3200 crore will be injected into Suzuki Motor Gujarat. This investment will add a new fourth production line, capable of producing 2.5 lakh units per year, and is expected to be operational in the fiscal year 2026-27.

In a move towards sustainable practices, Maruti Suzuki has initiated the construction of four biogas plants in collaboration with the National Dairy Development Board (NDDB) and Banas Dairy in the state.

The company also acknowledged the support of Prime Minister Narendra Modi for the manufacturing industry, emphasizing the steady expansion of the Indian automobile market under his leadership. The Indian automotive sector has grown significantly, making India the third-largest automobile market globally.

Read Also | Tata Group Explores Massive iPhone Assembly Plant in Tamil Nadu

Maruti Suzuki highlighted the substantial increase in production capacity and export sales, showing a 1.7 times rise in vehicle production and a 2.6 times increase in export sales in the current fiscal year compared to a decade ago.

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