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The investment is aimed at increasing production, launching new models and defending its market share in the world’s third-largest car market, the automaker’s chief said.
The company achieved a major milestone with the start of Lithium-ion battery cells production for its hybrid cars, Suzuki said.
Maruti Suzuki will export its electric SUV e-Vitara to 100 countries from its Gujarat plant. Prime Minister Narendra Modi flagged off the first e-Vitara at the Hansalpur plant of the company.
“Today is Ganesh Chaturthi and also a day of historical importance for the Suzuki Group. We are deeply honoured that the Prime Minister has raised the two landmark projects. His inspiration and visionary leadership have made this day possible…” Suzuki said.
India is the biggest market by sales and revenue for Japan’s Suzuki Motor, which has a presence there through its majority stake in market leader Maruti Suzuki.Maruti Suzuki share price: The shares of Maruti Suzuki India Ltd. were trading at Rs 14,608.10 per scrip after rising for Rs 149.95 (1.04%) as on 12:18 on Tuesday.
