Gandhinagar: Prime Minister Narendra Modi on Sunday laid the foundation stones for Suzuki Motor Corporation’s upcoming electric cell plant in Gujarat and a new vehicle manufacturing plant in Haryana. The two projects will entail an investment of over Rs 30,000 crore.
Modi was attending an event to commemorate 40 years of Suzuki Motor Corporation of Japan signing an agreement with erstwhile
Udyog to start a joint venture, formally starting the Japanese carmaker’s innings in India. The agreement was signed in October 1982.
The factory at Hansalpur in Gujarat will be completed by 2026 and make cells for electric vehicles (EV) that the company will make in India. It will entail an investment of over Rs 10,400 crore. A joint venture of Toshiba, Densu and Suzuki also has a cell plant at Hansalpur that makes cells for exports and for hybrid vehicles that
and Toyota will manufacture in the country.
The upcoming Maruti Suzuki plant at Kharkhoda in Haryana, meanwhile, will make EVs and petrol-driven cars and will have an annual capacity to make one million units. The plant will entail an investment of Rs 20,000 crore.
Suzuki also announced establishing a new company in India, Suzuki R&D Centre India, which will develop new technologies not just for India but for the global market.
“Success of Maruti Suzuki signifies strong India-Japan partnership,” Modi said. “Today, from the bullet train in Gujarat-Maharashtra to the Rudraksh centre in Banaras in UP, many development projects are examples of India-Japan friendship.”
Maruti Suzuki was established as a joint venture between the Government of India and Suzuki. Over the years, the government exited the venture while Suzuki became the majority shareholder with 56% stake. The remaining stake is owned by retail and institutional shareholders.
Highlighting the success of Maruti Suzuki, Toshihiro Suzuki, president of Suzuki, said Suzuki Group produced 2.8 million vehicles last year, and about 1.6 million, or about 60%, of these were made in India. “Today, India plays a significant role as a global automobile production hub in Suzuki Group,” he said.
Speaking about the importance of localising EV production in India, Modi said EVs make no noise when they move. “This silence is not only about its engineering, but it is also the beginning of a silent revolution in the country,” he said.