Maruti Suzuki invest another $310 million in R&D complex
Maruti Suzuki Ltd (MRTI.BO), India’s top car maker, said on Friday it plans to invest up to 15 billion rupees ($310 million) to set up a research and development (R&D) complex in north India. The R&D complex,
the first for Suzuki Motor Corp (7269.T) outside Japan, would also house auto parts makers for the firm. Suzuki owns 54.2 percent of Maruti. “The ambitious outlay highlights the growing ‘India focus’ by Suzuki Motor Corporation towards making Maruti Suzuki the R&D hub for small cars outside Japan,” chief executive of the Indian firm, Shinzo Nakanishi, said. India is fast emerging as a small car hub helped by its low cost base and strong auto parts capabilities. The investment will include an R&D centre for cars, a test track, a wind tunnel and crash facility with the first phase ready by 2012 and entire complex functional by 2015. Ahead of the news, Maruti shares closed 1.6 percent higher at 1,385.75 rupees in a firm Mumbai market .BSESN. ($1=48.6 rupees)
Reporting by Narayanan Somasundaram; Editing by Himani Sarkar via reuter
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