Maruti Suzuki India (MSI) received 5,000 crore rupees capital expenditures for various initiatives, including the launch of new products, in the current fiscal year, according to a senior company official. The country’s largest automaker, which has allocated about Rs 4,500 crore in FY 22, also believes Suzuki Motor Corp.’s parent company’s investment Gujarat will help expand the battery electric cars (BEV) range in the country.

“Capital expenditures of 5,000 crore rupees – this is what we have allocated to this fiscal for various projects, including the launch of a new model, etc.,” – said MSI CFO Ajay Seth in an interview with an analyst.

Manufacturer Alto and Swift said it would manage capital expenditures through internal accruals, he added.

Responding to a request for Suzuki’s plans to invest in Gujarat for the local production of battery electric vehicles (BEV) and BEV batteries, Seth said: “These investments will greatly support the localization of EV production and help the company accelerate and expand its BEV product. portfolio in India ”.

The company plans to introduce its first BEV by 2025.

In March Suzuki Motor Corporation announced the investment of about 150 billion yen (about 10,445 crore rupees) by 2026 in the local production of battery electric vehicles (BEVs) and BEV batteries in Gujarat.

Responding to a request for a persistent shortage of semiconductors and its impact on the company, Seth noted that the situation with the supply of electronic components remains unpredictable.

“It could also affect production volumes for fiscal 2022-23,” he added.

Currently, MSI has a lag of more than 3.2 lakh units due to production problems following an acute chip shortage.

“Overall, chips will remain a challenge this year, and of course we will try to maximize our numbers,” said Rahul, MSI’s Chief Corporate Officer. Bharti said.

Responding to a request for hybrids, he noted that this technology is very powerful, which can work in conjunction with EV to reduce carbon and oil imports.

“They perform about 30-40 percent of EV’s work and are many times larger. It would be an interesting option, and we will look forward to such technologies in the future,” Bharti said.

He noted that the company wants to regain more than 50 percent of the market share in the domestic passenger car segment.

“Of course, as a market leader, our goal will be to have a 50 percent market share or more. A number of factors are responsible for this, one is the shortage of semiconductors, and the three million expected orders if we service it, and then the numbers and market share would be much bigger, ”Bharti said.

He noted that the company’s market share in the SUV segment is more than 65 percent.

“In every segment except SUVs, our market share has grown. Every time we launch SUVs, of course, market share needs to improve,” Bharti said.

The company plans to release several products to consolidate its position in the fast-growing SUV segment.

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