Toyota, Honda, and Suzuki are transforming their manufacturing footprint with over $11 billion in new investments, and the destination has caught many by surprise.
The manufacturing expansion is aggressive. India offers Japanese manufacturers something China no longer can: lower costs, a vast labor pool, and protection from Chinese EV competitors who face restrictions in the Indian market.
Toyota announced more than $3 billion to expand its existing southern India factory and build a new plant, taking capacity to over 1 million vehicles. Suzuki is investing $8 billion to expand production capacity to 4 million cars annually, up from 2.5 million currently.
