Suzuki to establish an R&D subsidiary in India.
On the 40th anniversary of the establishment of Maruti Suzuki, the largest passenger vehicle brand in India, its largest shareholder Suzuki Motor re-affirmed Electric Vehicle investments in India & announced a thought to incorporate a new research and development subsidiary.
As per Business Standard, Reuters, & Financial Express, India’s prime minister Mr Narendra Modi laid the foundation stone for an Electric Vehicle cell manufacturing plant in Hansalpur, Gujarat & Maruti Suzuki’s upcoming manufacturing plant in Kharkhoda, Haryana on 28th August 2022, the day marking the 40th anniversary of Maruti Suzuki, a joint venture between Suzuki & Maruti.
Suzuki’s Gujarat and Haryana projects, firstly announced in May that it will involve investments of INR73 billion and INR1,100 billion, respectively. Besides the above investment projects, Suzuki will establish a new subsidiary, Suzuki R&D (research and development) Center India.
These investments are on top of the INR 650 billion investment Suzuki has made in India. Suzuki, Toshiba & Denso also established a joint venture TDS Lithium-Ion Battery Gujarat (TDSG) in India in 2017, with Suzuki controlling 50% of the company.
As per the reports, Toshihiro Suzuki, president of Suzuki Motor, said the group produced about 2.8 million automobiles worldwide in fiscal 2022 (April 2021- March 2022), among which 60 percent were manufactured in India & 240,000 units exported from India.