Suzuki-Nissan to pump in $1.5 billion in India

New Delhi, Sept 7: Japanase automobile majors Suzuki Motor Corp and Nissan will pump in $1.5 billion in two years to set up a manufacturing plant at Manesar, Haryana.

''The Suzuki-Nissan alliance will invest $1.5 billion to make India an export and manufacturing hub. The plant at Haryana will have a capacity of 3.5 lakh cars,'' Ministry of Heavy Industries and Public Enterprises Joint Secretary S Mitra said at the SIAM convention here today.

Suzuki Motor Corp and Nissan yesterday entered into an agreement to set up a 100 per cent export oriented unit in India. Under which, Maruti will produce certain vehicles of Nissan company.

The JV plans to export 3.5 lakh cars annually, Mr Mitra said, adding that the investment is with an aim to expand the existing operations of the company and build infrastructure in the country.

While the Tokyo-based motor company Nissan currently has three variants of its sport utility vehicle called 'the x-trail' in the Indian market, Maruti has aggressive plans of launching five new cars over the next five years in India.

UNI