ahmedabad :Japan-based Suzuki Motors Corporation announces investment worth approximately 50 million yen INRThe first day of the 10th Vibrant Gujarat, inaugurated by Prime Minister Narendra Modi on Wednesday, saw sales of $35,000 crore in Gujarat.
Maruti Suzuki India Ltd. INRThe company said in a statement that it will spend $32,000 crore to set up a car factory in Gujarat, which will eventually produce around 1 million vehicles a year.
The factory is scheduled to start operations in 2028-29.
Maruti Suzuki will also make additional investment INRThe company will invest $320 billion to set up a fourth production line at its wholly-owned subsidiary Suzuki Motor Gujarat. Ltd. aims to increase production of electric vehicles.
“The investment of INRThe company will invest $320 billion to add a new production line capable of producing 250,000 cars a year. With this, Suzuki Motor Gujarat’s annual production will increase from the current 750,000 units to 1 million units,” said Suzuki Motors President Toshihiro Suzuki.
Suzuki Motors also plans to export new models of Indian-made Java bikes to Japan and European countries.
Maruti Suzuki said it plans to increase production capacity to around 4 million units by 2030-31.
“Under the leadership of Prime Minister Narendra Modi, India has steadily grown as a manufacturing hub, with the result that India is now the world’s largest automotive hub,” said Toshihiro Suzuki.
To reduce the impact of carbon emissions, a Japanese company has announced that it will set up a biogas plant in Gujarat to produce compressed natural gas, bioethanol and green hydrogen.
“Taking advantage of India’s animal richness, we will start producing biogas from cow dung in collaboration with the National Diary Development Board (NDDB). Japan’s Suzuki has already installed four biogas plants in the state. We are starting construction,” he said.
Correction: A previous version incorrectly stated that Suzuki Motors would invest. INR32,000 million yen will be invested in a new factory in Gujarat, and the total investment in the state will be INR67,000 billion.
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Published: January 10, 2024, 2:31 PM IST