Suzuki Group’s factory in Japan will be used to make flying cars. Electric vertical take-off and landing (eVTOL) aircraft will be made in this factory. Its production may start next year. Under the agreement, SkyDrive will form a wholly owned subsidiary to manufacture the aircraft, and Suzuki will be responsible for helping prepare for manufacturing, including manpower. SkyDrive is headquartered in Toyota City, Japan. Last year, both these companies had told that they would try to enter new markets. India will also be included in these.
Suzuki has a partnership with Maruti in India. Maruti Suzuki has the largest market share in the country’s passenger car market. Recently, Maruti had told that it is planning to set up a new manufacturing plant in view of the projected increase in sales and export demand. The capacity of this plant will be up to 10 lakh units annually. The company has earmarked around Rs 8,000 crore for capital expenditure in the current financial year.
The company has not finalized the location of the new plant and the investment to be made on it. Maruti had said that its board has given in-principle approval to set up a capacity of one million units per annum at the new plant. The new plant will be separate from the manufacturing plant being built in Sonipat, Haryana. The new plant will be integrated with the company’s Sonipat plant. At the end of the last financial year, Maruti had cash reserves of around Rs 45,000 crore. The company had revealed that it will get a bigger three row strong hybrid model under its collaboration with Toyota. Maruti is facing loss of production due to semiconductor shortage. However, the company expects the situation to improve in the next quarter.
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