On commissioning, the fourth production line would take Suzuki’s total installed capacity to a million units in Gujarat. Maruti Suzuki Chairman R C Bhargava, said, “(At) the Gujarat facility which Suzuki has set up, the first line of 250,000 units has been already commissioned, and work is going on at the second and third lines that will increase the Gujarat plant capacity to 750,000 units in two-three years. Sales are expected to go up further to 2.5 million vehicles every year in two-three years. The three Japanese entities have signed an agreement to form a joint venture, which is aimed at tapping into the growing popularity of electric vehicles in India. The joint venture will ensure stable supplies of lithium-ion battery packs in the country.Bhargava said the auto industry is moving toward electric vehicles (EVs) despite the challenge to come up with an affordable car.

Source: Economic Times September 08, 2017 19:07 UTC