TL;DR
Toyota, Suzuki, and Honda are investing billions in India by 2030 to establish it as a manufacturing and export hub, moving away from China's competitive market.
Leading Japanese automakers, including Toyota, Suzuki, and Honda, have collectively pledged billions of dollars in investments towards the 'Make in India' initiative by 2030, aiming to transform the country into a global manufacturing and export hub. This strategic shift signifies a pivot away from China, driven by intense competition and low-profit margins in the Chinese EV market.
Toyota plans to invest $3 billion (approximately ₹26,000 crore) to expand its existing factory in Karnataka and establish a new one in Maharashtra, targeting over 10 lakh units per year by 2030 and a 10% market share in India. Suzuki, through its majority stake in Maruti Suzuki India Ltd., intends to invest up to ₹70,000 crore by FY30 to boost its production capacity to 40 lakh units annually and regain a 50% market share. Honda has also stated its intention to make India a production and export hub for one of its planned electric cars.
