AHMEDABAD : Japan-based Suzuki Motor Corp. announced investments worth ₹67,000 crore in Gujarat on the opening day of the 10th edition of Vibrant Gujarat, which was inaugurated by Prime Minister Narendra Modi on Wednesday.
Suzuki Motors will invest approx ₹32,000 crore to expand its electric vehicle battery manufacturing facility in Gujarat and another ₹35,000 crore for a second plant in the state, said Toshihiro Suzuki, president, Suzuki Motor.
“The investment of ₹32,000 crore will add a new production line that can produce 2.5 lakh (250,000) units per year. It will increase the current annual production of Suzuki Motor Gujarat from the current 7.5 lakh (750,000) to 1 million units,” he said.
Suzuki Motor also plans to export new models of Jawa bikes that are made in India to Japan and European countries, he said.
With a second car plant in Gujarat, Suzuki is expected to produce an additional 1 million vehicles each year, doubling its annual output to 2 million.
“India has steadily grown as a manufacturing hub under the leadership of Prime Minister Narendra Modi and as a result India has now become the world’s largest automotive hub,” said Toshihiro Suzuki.
To mitigate the impact of carbon emissions, the Japanese company has announced that it is establishing biogas plants in Gujarat, and will produce compressed natural gas, bioethanol and green hydrogen.
“Taking advantage of India’s animal wealth, we will start production of biogas from cow dung along with the National Dairy Development Board (NDDB). Suzuki, Japan has already started construction of four biogas plants in the state,” he said.
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Published: 10 Jan 2024, 14:31 IST