Maruti Suzuki to Invest 38,200 Crores:
At the Vibrant Gujarat Global Summit 2024, Suzuki’s big boss, Toshihiro Suzuki, shared some exciting news. Suzuki Motor Corporation is planning to invest a huge amount, INR 35,000 crore, to build a new plant in Gujarat. They’re also putting INR 3,200 crore to add another production line to the existing SMG plant there.
Why? Well, Suzuki wants to bring 10 new car models to us by 2030-31, And guess what? They’re getting ready to roll out their first electric car from the Gujarat plant by the end of this year!
This new line, expected to be up and running by the fiscal year 2027, will boost the factory’s yearly capacity by 33% to 1 million units.
They’re also constructing a brand-new plant in Haryana, up north. This one should start making cars in 2025 and is aiming to churn out 1 million vehicles each year by 2028.
What Suzuki Said?
Suzuki mentioned that they plan to launch their first electric car in India later this year. But when it comes to cutting down on pollution, Maruti Suzuki (which is part of Suzuki) is taking a “many roads” approach. So, besides electric cars, they’re also going for other options like natural gas, biogas (made from cow dung), bioethanol, and green hydrogen. They’ve already begun building four biogas plants in Gujarat, making good use of India’s animal resources.
About Maruti Suzuki:
Maruti Suzuki started in 1981 as a government-owned company and was later taken over by Suzuki Motor in 2007. They became popular in India, especially among the middle class, with affordable hatchbacks like the Maruti 800 and Zen. These smaller, sleek cars were a cool choice compared to the bigger ones like the Ambassador and Premier Padmini. Maruti Suzuki stayed the biggest carmaker in India because people liked their affordable small cars. But lately, more folks are into SUVs, and that’s chipping away at Maruti Suzuki’s top spot as richer Indians go for larger vehicles.
About Suzuki’s Manufacturing:
In 2022, carmakers sold more SUVs (1.6 million) than hatchbacks (1.32 million) in India. SUVs made up 42% of sales, while hatchbacks were at 35%, says JATO Dynamics.
Maruti Suzuki used to be the big player, with 41.4% market share in December 2022. But it dropped to 40.3% in December 2023, mainly because more people are buying SUVs instead of small cars.
To catch up, Maruti Suzuki launched new SUVs like Grand Vitara, Invicto, and Jimny. But they’re facing tough competition from Indian brands like Tata Motors and Mahindra, as well as global ones like Renault, Nissan, Honda, Hyundai, and Kia.
To Know More – Visit
Hon’ble @PMOIndia, Shri @narendramodi, President @JoseRamosHorta1 of Timor-Leste, President @FNyusi of @mozambique_gov, & Hon’ble @CMOGuj, Shri @Bhupendrapbjp visit #MarutiSuzuki pavilion at #VibrantGujaratGlobalSummit showcasing #TechnologiesForViksitBharat@VibrantGujarat pic.twitter.com/xPgNFhhro1
— Maruti Suzuki (@Maruti_Corp) January 9, 2024
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