Will continue to invest in India aggressively: Suzuki Motor President

India has become one of the most important countries for Suzuki Group, says Toshihiro Suzuki

Suzuki
PM Modi with Suzuki Motor President
Reuters Gandhinagar
2 min read Last Updated : Aug 28 2022 | 7:14 PM IST
Japan's Suzuki Motor Corp will set up a new global research and development company in India and continue to invest in the country aggressively, its president Toshihiro Suzuki said on Sunday.

The new company, a wholly owned unit of Suzuki Japan, would help the Japanese carmaker strengthen its R&D competitiveness and capabilities not only for India but also for global markets, Suzuki said during an event in Gandhinagar, the capital of Gujarat.

"India has become one of the most important countries for Suzuki Group," he said at the event attended by Indian Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida, adding that Suzuki would keep investing in India.

Commemorating 40 years of Suzuki in India, Modi laid the foundation stones of two major projects - a Suzuki electric vehicle battery manufacturing facility in Gujarat and a Maruti Suzuki car-making facility in the northern state of Haryana.

Suzuki is the majority owner of Maruti, which dominates India's car market with its small, low-cost vehicles. But the company faces growing competition as buyers shift to bigger cars such as sports-utility vehicles (SUVs) and regulators demand safer and greener cars, pushing up costs.

For Suzuki, India is one of the biggest markets in terms of revenues and profit and one where it has so far invested Rs 65,000 crore to support Maruti and ensure it maintains its leadership position.

More than 60% of Suzuki Group's 2.8 million automobiles produced all over the world last year were made in India, company president Suzuki said on Sunday.

Suzuki started producing cars in Gujarat in 2017 for Maruti and for export to countries including Latin America and Africa.

In March, the Japanese carmaker said it plans to invest Rs 10,440 crore in its India factory to produce electric vehicles (EVs) starting 2025 and batteries a year later. The plant has an annual capacity of 750,000 cars.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :SuzukiNarendra Modi

Next Story