Japan's Suzuki to invest $553.8 million in engines, India R&D

Japan's Suzuki Motor Corp would invest 50 billion yen ($553.8 million) in expanding engine capacity and on research and development in India, its chairman Osamu Suzuki said on Tuesday.                                           

The total amount, to be spent over two years, would be roughly equally split between engines and R&D, a spokesman for its Indian unit Maruti Suzuki told reporters.                                           

Suzuki is in India to mark the roll-out of the millionth car from the Maruti portfolio and also to lay the foundation for capacity expansion at its plant in Manesar in northern Haryana.             

Germany's Volkswagen AG owns 19.9% in Suzuki.