Suzuki Motor Corp. said Thursday it will invest 4 trillion yen ($27 billion) in the six years through fiscal 2030 as the automaker tries to accelerate vehicle electrification.
Under the newly revealed management plan, Suzuki said it will spend 2 trillion yen each for capital expenditures as well as research and development, with software development and India, its key market, listed as its main areas of focus.
Provided by Kyodo News
Japan's major minivehicle maker also said it aims to post 8 trillion yen in sales and 800 billion yen in operating profit in fiscal 2030, compared with its fiscal 2023 figures of 5.37 trillion yen and 465.56 billion yen, respectively.
Its sales target for the year ending March 2031 was set at 4.2 million units, up from the 3.16 million units it sold in fiscal 2023.
While the company did not reveal how much it would spend on capital expenditure in Japan, President Toshihiro Suzuki said at a press conference in Tokyo, "Japan is important as a place where we develop state-of-the-art technologies," emphasizing the company's commitment to the market.