Page 10 - Maruti Suzuki India

Maruti Suzuki plans to start exports of EVs, lithium-ion battery this year

Maruti Suzuki India plans to start exporting Electric Vehicles (EVs) from India this year after launching them in the country, a senior company official said on Thursday. The company also expects to export lithium-ion battery cells and modules worth around Rs 750 crore this fiscal. "This year itself we will start exports of EVs to countries like Europe and Japan," Maruti Suzuki India Executive Director Rahul Bharti said at the Vibrant Gujarat Global Summit here. On the export of battery cells and modules, Bharti said, "We are exporting it to advanced countries like in Europe. We will be touching almost Rs 750 crore of lithium-ion advanced chemistry cells, battery packs and module exports this financial year." Automotive Electronics Power Private Ltd (AEPPL) -- a joint venture between Japan's TOSHIBA Corporation, Denso Corporation and Suzuki Motor Corporation, has a lithium-ion battery plant at Hansalpur in Gujarat. Maruti Suzuki procures the cells and models from the JV and export

Maruti to build second car plant in Gujarat, will invest Rs 35,000 cr

New plant will have annual production capacity of 1 mn units; will start operation in 2028-29

Japan's Suzuki to invest Rs 35,000 crore for second car plant in Gujarat

Japanese carmaker Suzuki Motor will invest 350 billion rupees ($4.21 billion) for a second car plant in India's Gujarat state, its president said on Wednesday at an investment summit in India

Rise in auto loan interest rates could impact PV sales: Maruti Suzuki

Passenger vehicle sales in India could be weighed down by increase in interest rates for auto loans, if there is no reduction in repo rates going forward as the industry gears up for a single-digit growth this year, according to Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava. With a high base of record 41.08 lakh units in 2023, passenger vehicle (PV) sales this year could grow in single digit with the overall economic growth of the country being a positive factor, he said. "The auto industry growth is largely dependent on the growth in the overall economy, the GDP per capita growth that's projected 6-6.5 per cent. There's a very high correlation between the two... so that is a positive side," Srivastava told PTI. However, he said, "We have reached a very high level of base, and on that base a continuous high growth may be a little difficult. We saw in 2021 the growth to be almost 27 per cent, in 2022 it was 23 per cent. In 2023 it is 8.3 per .

Stocks to Watch today, Jan 4: Adani Ports, NTPC, LIC, IT, Vedanta, OIL, IEX

Stocks to Watch on Thursday, January 4, 2024: The board of directors of Adani Ports and Special Economic Zone Limited (APSEZ) has approved raising funds up to Rs 5,000 crore

Kia India appoints Gwanggu Lee as MD and CEO with immediate effect

Lee will be replacing Tae Jin Park, who has been the India head of the South Korean carmaker for the last four years. The company said that Park is retiring after his 36-year-long journey with Kia

Maruti Suzuki's total sales dip in December; exports in 2023 all-time-high

Despite the dip in December, Maruti Suzuki's compact segment continues to have the highest share in its total sales followed by utility vehicles and vans

Maruti saw biggest jump in average revenue earned per car in 2023 at 13%

In 2022, MSIL had experienced an 11.98 per cent Y-o-Y increase in average revenue per car

After an impressive festive season, car sales likely to cool down in Dec

December is usually marked with weaker sales as customers tend to wait for the new year to get the newest cars with the changed model year

Maruti Suzuki to set up second JIM in Haryana, boosting skills training

Maruti Suzuki India (MSI) on Friday said it has inked a pact with the Haryana government to set up second Japan-India Institute for Manufacturing (JIM) in the state. The new institute would come up at Kansala in Rohtak, Haryana and will be operational next year. Spread over five acres, the existing ITI Kansala will be upgraded to a JIM with an investment of 5.8 crore, the auto major said in a statement. The Haryana government has provided the land and building for the JIM, Kansala, while the company will provide equipment, training modules, trained teachers, and will manage this institute for 15 years, it added. "The Indian passenger vehicle industry is now world's third largest and growing. It is our responsibility to prepare human capacity corresponding to manufacturing capacity to meet this growth," MSI Executive Director Corporate Affairs Rahul Bharti stated. Skilling youth with industry ready skills will help in realising the vision of an Atmanirbhar Bharat, he added. MSI ..

Maruti Suzuki's 2024 launches: Know about new cars, prices, specs, and more

Maruti will also join the EV bandwagon with its first born-electric SUV, the eVX, which is slated to be launched in India towards the end of 2024

Maruti's first EV with a range of 550 km set to be launched by March 2025

While Maruti Suzuki retains a dominant market share in the petrol-powered affordable cars segment, given the size and range of the vehicle, the eVX is unlikely to be as affordable as Tata's Tiago EV

Suzuki Motor Gujarat unit crosses 3 mn cumulative production milestone

Maruti Suzuki India (MSI) on Wednesday said its Gujarat-based unit has crossed 30 lakh cumulative production milestone. Suzuki Motor Gujarat (SMG) has surpassed the milestone within a span of around 6 years and 11 months since commencing operations in February 2017, MSI said in a statement. SMG has an annual production capacity of 7.5 lakh units and the vehicles manufactured at the plant are sold in both domestic as well as export markets. "With the acquisition of Suzuki Motor Gujarat, we are further enhancing our production flexibility. The production of our battery electric vehicles will also be undertaken at the Gujarat plant and is expected to start in FY 2024-25," MSI MD and CEO Hisashi Takeuchi stated. Currently, the facility rolls out some of the popular models like Swift, Baleno, Dzire and Fronx. Around 50 per cent of the vehicles manufactured at SMG in 2022-23, were exported to global markets, Takeuchi noted. MSI board recently approved the acquisition of SMG from Suzuki

After Audi, Maruti Suzuki to hike prices of its cars from January 2024

Maruti Suzuki, India's largest carmaker, did not mention the quantum of price hike

Suzuki Motor's stake in Maruti Suzuki to rise to 58.19% from 56.48%

The board of Maruti Suzuki approved the allotment of 12,322,514 equity shares to Suzuki having a face value of Rs 5 each at a price of Rs 10,420.85 per equity share

Suzuki to introduce three-cylinder engines: Why is this a big deal?

Suzuki has continued with its four-cylinder engines at a time when most carmakers have shifted to three-cylinder units

Festival season momentum lights up domestic PV sales, GST collection

PV sales climb new peak for 3rd straight month; GST mop-up at Rs 1.72 trn

Maruti Suzuki records highest-ever monthly sale; sells 199,217 units in Oct

Utility vehicle sales for the company stood at 59,147 units in October 2023 which was almost double the 30,971 units sold in October 2022

Market share and margins to take the wheel for Maruti Suzuki India

Volume trajectory to hit the accelerator powered by festival season sales

Sensex up 635 pts, Nifty near 19,050: Reasons behind market rally on Friday

Stock market highlights: JP Morgan, on Friday, upgraded India to 'Overweight' from 'Neutral' and recommended investors to use the near-term correction as an opportunity to add