Reiterating his commitment to India, Japanese auto major Suzuki Motor Corporation (SMC) chairman and Ceo Osamu Suzuki on Tuesday committed an investment of 300 billion yen (about Rs 11,000 crore) for the company`s various operations here in the next three-four years.
"So far we have invested about 100 billion yen. Going forward we are investing an additional 200 billion yen up to 2010," Suzuki said, while inaugurating Maruti Suzuki`s fourth assembly plant here.
The Japanese auto giant has already announced an investment of about 250 billion yen (Rs 9000 crore) for Maruti Udyog Ltd (MUL) and Suzuki Powertrain India Ltd (Spil), which would include capacity expansions, development of new models, extension of research and development.
Besides the fourth assembly plant for MUL, the diesel engine and transmission plant for Spil, was also inaugurated today.
Suzuki said the group would be investing 20 billion yen in its two-wheeler venture in India--Suzuki Motorcycle India Pvt Ltd, the plant for which was also inaugurated today. An additional 30 billion yen will be for overall other capital expenditure.
He said the group was committed to its Indian venture and would continue to take the leadership role in motorisation of India and was aiming to sell one million cars in the country by 2010.
On the issue of technology transfer, Suzuki said SMC would pass on the much talked about gearbox technology 100 per cent to MUL.
"SMC has 54 per cent stake in Maruti and there is nothing to hide. It is not a rival company, therefore, we are transferring technology to the extent of 100 per cent," he said.
He said Spil, the joint venture of SMC with MUL, in which SMC has 70 per cent stake and rest with the latter, would be manufacturing transmissions for one million vehicles by 2008.
Spil`s plant will have an initial capacity to manufacture 1 lakh diesel engines a year and is being scaled up to 3 lakh engines per year by 2010, with a total investment of Rs 2,500 crore.
The fourth plant of MUL, besides manufacturing its premium hatchback Swift, would manufacture an export model expected to be launched in 2008-09.
The car assembly plant will have an initial capacity of 1 lakh cars per year, which will be scaled up to 3 lakh cars per year. The company has earmarked a total investment of Rs 2,500 crore in this unit by 2010.
Both MUL`s fourth car plant and Spil`s diesel transmission facility are located within the same campus in Manesar, extending over 600 acres.
With the inauguration of the new plant, MUL will have an overall total capacity of 7.3 lakh per annum at present from its Gurgaon and Manesar plants.
Not only looking at the domestic market, the company has also set a target of exporting 1.5 lakh units of cars from India to global markets, including Europe.
Similarly, Spil is also set to start exporting its diesel engine to Suzuki`s plant in Hungary this year.
"So far we have invested about 100 billion yen. Going forward we are investing an additional 200 billion yen up to 2010," Suzuki said, while inaugurating Maruti Suzuki`s fourth assembly plant here.
The Japanese auto giant has already announced an investment of about 250 billion yen (Rs 9000 crore) for Maruti Udyog Ltd (MUL) and Suzuki Powertrain India Ltd (Spil), which would include capacity expansions, development of new models, extension of research and development.
Besides the fourth assembly plant for MUL, the diesel engine and transmission plant for Spil, was also inaugurated today.
Suzuki said the group would be investing 20 billion yen in its two-wheeler venture in India--Suzuki Motorcycle India Pvt Ltd, the plant for which was also inaugurated today. An additional 30 billion yen will be for overall other capital expenditure.
He said the group was committed to its Indian venture and would continue to take the leadership role in motorisation of India and was aiming to sell one million cars in the country by 2010.
On the issue of technology transfer, Suzuki said SMC would pass on the much talked about gearbox technology 100 per cent to MUL.
"SMC has 54 per cent stake in Maruti and there is nothing to hide. It is not a rival company, therefore, we are transferring technology to the extent of 100 per cent," he said.
He said Spil, the joint venture of SMC with MUL, in which SMC has 70 per cent stake and rest with the latter, would be manufacturing transmissions for one million vehicles by 2008.
Spil`s plant will have an initial capacity to manufacture 1 lakh diesel engines a year and is being scaled up to 3 lakh engines per year by 2010, with a total investment of Rs 2,500 crore.
The fourth plant of MUL, besides manufacturing its premium hatchback Swift, would manufacture an export model expected to be launched in 2008-09.
The car assembly plant will have an initial capacity of 1 lakh cars per year, which will be scaled up to 3 lakh cars per year. The company has earmarked a total investment of Rs 2,500 crore in this unit by 2010.
Both MUL`s fourth car plant and Spil`s diesel transmission facility are located within the same campus in Manesar, extending over 600 acres.
With the inauguration of the new plant, MUL will have an overall total capacity of 7.3 lakh per annum at present from its Gurgaon and Manesar plants.
Not only looking at the domestic market, the company has also set a target of exporting 1.5 lakh units of cars from India to global markets, including Europe.
Similarly, Spil is also set to start exporting its diesel engine to Suzuki`s plant in Hungary this year.
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