Suzuki to spend over $4.5 billion on expansion in India

Jan 11, 2024 | News On Japan

TOKYO - Suzuki has announced plans to invest over 600 billion yen in India to build a new factory capable of producing 1 million vehicles annually in a move to shore up its current 40% market share amid keen competition from Korea.

Suzuki Motor Corporation already has three production bases in India, including in the western state of Gujarat, and has reached a basic agreement with the state government to construct a new factory to enhance its production capacity.

The new factory is targeted to start operations in 2028, with an expected annual production capacity of 1 million vehicles.

Additionally, the company has announced plans to set up a new production line at another factory in Gujarat that will be capable of producing EVs. This line is scheduled to become operational in 2026 and is expected to increase the factory's production capacity by 250,000 vehicles annually. The combined investment for these two plans is estimated to be around 660 billion yen.

Last year, the company produced approximately 1.9 million vehicles in India. Including the construction plan for a new factory in Haryana, which has already been decided, Suzuki aims to secure an annual production capacity of 4 million vehicles by the fiscal year 2030.

While Suzuki is positioned as the market leader in India, with a market share exceeding 40%, competition has been intensifying with Korean and local manufacturers.

Source: NHK

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