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Suzuki Plans $3 Billion Investment in Indian Venture
Suzuki Motor Corp. says it will invest about $3 billion in its Maruti Suzuki India Ltd. venture by 2020 to prepare the company for a major expansion into hybrid and all-electric models.
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Suzuki Motor Corp. says it will invest about $3 billion in its Maruti Suzuki India Ltd. venture by 2020 to prepare the company for a major expansion into hybrid and all-electric models.
The Indian government announced last September that it will ban the sale of piston-powered vehicles by 2030. Maruti Suzuki plans to debut its first EV in the market in 2020. The company also intends to introduce hybrid variants of its Ciaz flagship sedan and S-Cross compact crossover vehicle by then.
Maruti Suzuki, which sold more than 1.6 million vehicles in India last year, controls more than half of India’s passenger vehicle market. The company says it expects to launch two or three new models annually to help defend its leadership position.
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