$1.5 billion R&D budget to upgrade Maruti Suzuki to BS-VI

Suzuki Motor’s $1.5 billion R&D budget will be used to upgrade Maruti Suzuki cars to Bharat Stage VI emission norms, and develop hybrid and electric cars so as to maintain its over 50% market share in India. Suzuki Motor Corp., in a post-earnings conference call said the company needs to find ways to maintain its current market share in India till 2030 when the Indian passenger vehicle market is tipped to touch the 10-million mark annually. The new spends on R&D will take a toll on Suzuki’s earnings. The company would also invest in developing electric vehicles and related infrastructure like charging stations and making other components of electric vehicles