Foreign institutional investors (FIIs), registered foreign portfolios investors (RFPIs) and qualified foreign investors (QFIs) can now invest up to 40 per cent of the paid-up capital of Maruti Suzuki India Limited under the portfolio investment scheme (PIS), Reserve Bank of India (RBI) said in notification issued today.
Suzuki have finally taken the wraps off its much awaited Baleno or the YRA as it was known earlier at the 2015 Frankfurt Motor show.
It has set a target of achieving two million sales annually by 2020.
A new mild hybrid variant has also been confirmed.
He, however, said only market would determine by when the company could touch the three-million mark. The company sold about 1.3 million vehicles in the fiscal year ended on March 31, 2015. It also offers comfort, including on long-distance journeys, with plenty of space for adults in both the front and rear, as well as generous luggage space. “Our endeavour is to continue the double-digit growth… for that new models are important”, he said, while also stressing on the need for launching new products and refurbishing existing ones.
Powering the Baleno will be Suzuki’s new 1.0-litre Boosterjet turbo-petrol motor developing 110bhp and 17.33 kgm of torque for worldwide markets.
The Baleno sits on an all-new platform that will eventually be shared with the direct replacement for the current Swift. The model will be a key driver for the success of NEXA outlets. Gaurav Vangaal, senior analyst, forecasting at consultancy firm IHS Automotive, sees the target as a tad ambitious.
This Elite i20 assassin will probably get a new name in India and is expected to launch next month, the production has already started at the Manesar facility! We’ll have full prices and specs closer to the Baleno’s on sale date in Spring 2016. Contrary to speculation, the vehicle will be called Baleno in India too.
Manufactured at Maruti’s Manesar plant, the Baleno is going to be exported to global markets, including Japan.