Shares of Maruti Suzuki surged 2.6% on August 28, hitting a new 52-week high of ₹14,895 after its parent company, Japan’s Suzuki Motor, announced a massive investment plan for India. Suzuki Motor’s chairman revealed that the automaker will invest ₹70,000 crore ($8 billion) over the next five to six years as part of its electric vehicle (EV) expansion strategy.
The announcement coincided with the start of commercial production of Maruti Suzuki’s first born-electric SUV, the e-Vitara, at its Gujarat plant in Hansalpur Becharaji. This milestone positions India as a global hub for Suzuki’s electric car manufacturing, with exports planned to nearly 100 countries, including Japan.
Maruti Suzuki currently produces 17 models in India, and with the e-Vitara, it will add significant EV capacity. Chairman R.C. Bhargava confirmed that between 50,000 and 100,000 units of the e-Vitara will be exported annually. However, the company has not yet committed to a domestic launch, citing the high cost of batteries as a key challenge for India’s price-sensitive car market.
The e-Vitara will compete directly with models like Hyundai’s Creta EV and Mahindra’s XEV 9e. The fresh investment is expected to significantly boost Maruti Suzuki’s EV roadmap and reinforce its leadership in India’s auto sector, where it already holds a 40% market share.
