Maruti’s electric car will be made in Gujarat, Suzuki will build a new plant by investing Rs 35 thousand crores.
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Vibrant Gujarat Global Summit 2024: Suzuki Motor Corporation President Toshihiro Suzuki said on Wednesday that Maruti Suzuki India (Maruti Suzuki India) will invest Rs 35,000 crore to set up its second manufacturing facility in Gujarat. The company aims to increase the annual production capacity to more than 40 lakh units by 2030-31. Speaking at the 10th edition of Vibrant Gujarat Global Summit (VGGS), Toshihiro said the installed production capacity of the plant will be 10 lakh units per annum. He said that we will invest Rs 35,000 crore to build a second car plant in Gujarat, which will produce 10 lakh units every year. He said that the operation of the new plant is expected to start in the financial year 2028-29. Details of its location and the models to be produced will be shared in due course. With this, the annual production capacity in Gujarat will become 20 lakh units. Suzuki Motor will manufacture 10 lakh units in Gujarat and 10 lakh units in the second new plant. Suzuki Motor has about 58 percent stake in Maruti Suzuki India.
Maruti production increased 1.7 times
Toshihiro Suzuki said that the Indian automotive market is continuously expanding due to the strong leadership and continued support of Prime Minister Narendra Modi for the manufacturing industries. He said that on this basis India has become the third largest motor vehicle market in the world. We have also significantly increased production capacity in India. We expect 1.7 times increase in vehicle production and 2.6 times increase in export sales in the current financial year 2023-24 as compared to 10 years ago. He said that the first battery electric vehicle (BEV) of Suzuki Group will be introduced by Suzuki Motor Gujarat by the end of this year. He said that our plan is to sell this model not only in India but also to export it to Japan and European countries.
PM Modi inaugurated the program
Vibrant Gujarat 2024 was inaugurated today by Prime Minister Narendra Modi. It is being organized at the Mahatma Mandir Convention and Exhibition Center in Gandhinagar, the capital of Gujarat. PM Modi was accompanied at the event by UAE President Mohammed bin Zayed Al Nahyan, Czech Republic Prime Minister Petr Fiala, Mozambique President Philippe Jacinto Nyusi, Timor-Leste President Jose Ramos-Horta, Gujarat Chief Minister Bhupendra Patel, Gujarat Governor Acharya Devvrat and big industrialists from across the country are included. In this program, Reliance Group chief Mukesh Ambani has announced a big investment. Along with this, Gautam Adani has announced an investment of Rs 2 lakh crore in five years. Suzuki Motors has also announced to invest Rs 38,200 crore in Gujarat. The event will continue till January 12.
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