Japan's Suzuki Motor plans to build a new plant in India in 2011 in a bid to meet growing demand for cars in the country, a newspaper reported yesterday.
The manufacturer of small cars and motorcycles plans to invest about 30 billion yen (Bt1 billion) in construction of a plant with annual production capacity of 300,000 vehicles, the Nikkei business daily said. The firm will build the plant near its production base in manesar near New Delhi, where Suzuki has already been producing some 300,000 units a year with its Indian partner, according to the daily's evening edition.
Vehicle manufacturers see huge potential in countries such as India and China, with their billion-plus populations. In July, Indian car sales jumped for a sixth straight month, climbing an annual 31 per cent. India is one of thw world's least penetrated car markets with just seven autos per 1,000 people compared with 850 cars per 1,000 people in the United States.
Immediate confirmation of the report was not available.
Meanwhile Italian car company Fiat is planning to source components worth US$1 billion (Bt34 billion) from India by 2010 for its global operations, a news report said.
"Our target is to make India an important sourcing hub," Fiat Group purchasing vice-president, Franco Cavallotti, was quoted by the PTI news agency as saying.
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