New Delhi: Suzuki Motor Corporation has announced on Monday that its subsidiary in Myanmar, Suzuki Thilawa Motor Co. Ltd., will construct a new car plant in the country with an investment of $109 million. The new plant will conduct welding, painting, and assembly of automobiles.
The new car plant is scheduled to start operations from September 2021 and it will be constructed in an industrial park located in the Thilawa Special Economic Zone, southeast of Yangon. This facility will have an annual production capability of 40,000 units.
Started its operations in 1998 through a joint venture, Suzuki Motor Corporation commenced local production of motorcycles and four-wheelers in the country back in 1999. Presently, the company has two plants in the country that produces models like Carry, Ciaz, Ertiga, and Swift.
Last year, Suzuki manufactured 13,300 units registering a YoY growth of 125 percent as against 2018. Also, the company sold 13,206 units, marking a YoY growth of 128 percent compared to 2018.
Suzuki currently has a market share of 60.3 percent in the country. With the new plant ready to start operation in 2021, the market share is expected to increase, hopes the auto company.