Suzuki Invests $8 Billion in India to Boost EV Production, Exports
Suzuki Motor has announced a significant investment of over INR 700 billion (US$ 8 billion) in its Indian operations over the next five to six years. The company aims to solidify its dominant position in the Indian market, boost exports, and expand its electric vehicle (EV) operations.
The Japanese automaker plans to rely on multiple technologies to reduce vehicle emissions in India. These include battery-powered and hybrid powertrains, as well as compressed natural gas (CNG). Suzuki's Hansalpur plant in Gujarat is set to become one of the world's largest automobile manufacturing hubs, with a planned production capacity of 1 million units.
To strengthen its supply chain for hybrid vehicles, Suzuki has begun producing lithium-ion batteries in India in partnership with Toshiba and Denso. This collaboration also includes the joint venture TDS Lithium-Ion Battery Gujarat (TDSG), involving Ashok Leyland. The company aims to double its production capacity in India to four million vehicles per year by the end of the decade.
The Hansalpur plant will not only serve the domestic market but also export the eVitara SUV to over 100 countries, including Japan and Europe.
While Suzuki's ambitious plans promise a significant boost to the Indian automobile industry, widespread adoption of battery-powered vehicles may take time due to affordability concerns. Nevertheless, the company's strategic investments and partnerships indicate a commitment to sustainable mobility and global expansion.
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