Gandhinagar, Jan 10 (KNN) Japanese carmaker Suzuki Motor is set to make a significant investment of 350 billion rupees (USD 4.21 billion) in building a second car plant in Gujarat, India, announced Toshihiro Suzuki, President, Suzuki Motors, on Wednesday.

This move is part of Suzuki's strategy to boost production capacity in one of its key markets.

Toshihiro Suzuki revealed that an additional 32 billion rupees would be invested to add a new production line in an existing plant in Gujarat, at an investment summit in the state.

This investment aims to strengthen Suzuki's foothold in the electric vehicle segment.

India's thriving auto market holds strategic importance for Suzuki, especially with its subsidiary Maruti Suzuki leading the car sales charts.

The new investments are expected to increase Suzuki's annual production capacity to 2 million units in Gujarat, as highlighted in the company's official statement.

(KNN Bureau)