Maruti Suzuki Plans $1.5 Billion Product Blitz in India

India’s largest carmaker, Maruti Suzuki Ltd., says it will invest $1.5 billion to introduce 15 new models within five years.

The plan, called Vision 2.0, aims to expand the company’s annual sales to 2 million units by the end of 2020 compared with 1.3 million last year.

The first of the new models, the previously announced Breeza small SUV, is due in April. It will compete with the Ford EcoSport and Mahindra TUV300.

This week the company unveiled pre-production versions of two more new vehicles set to launch in about October. Both—the Balanos RS hatchback and Ignis mini-SUV—are localized versions of vehicles Suzuki launched in Japan over the past four months. The two Indian models will be marketed through Maruti Suzuki’s new Nexa premium retail channel.

All three vehicles will be offered with 1.2- and/or 1.3-liter diesels. The Ignis likely will debut with an optional gasoline engine, and the company says it is developing a similar option for the other two models.