Suzuki Motor Corporation (SMC) will set up a global research and development company in India which will be a wholly-owned unit of the Japanese company, its president, Toshihiro Suzuki, said at an event in Gandhinagar where the foundation stone for a battery making unit at Hansalpur and a vehicle manufacturing facility in Kharkhoda, Haryana, was laid in a virtual ceremony by PM Modi.
Suzuki said the new R&D unit would help the company strengthen its R&D competitiveness and capabilities not only for India but for global markets as well. "India has become one of the most important countries for the Suzuki Group," Suzuki said, adding that it would continue to invest in India aggressively. SMC also aims to deepen its ties with Indian academic institutes and start-ups to develop diverse human resources, he said.
For Suzuki, India is one of the biggest markets in terms of revenues and profit and one where it has so far invested 650 billion rupees ($8.13 billion) to support Maruti Suzuki India and ensure it maintains its leadership position in India. SMC started producing cars in Gujarat in 2017 for Maruti and for the export market which includes Latin America and Africa.
In the last fiscal, Suzuki manufactured 2.8 million cars all over the world, of which 1.6 or about 60 percent, were produced in India. Also, exports from India reached its highest ever at 2.4 lakh units last year.
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