Maruti Suzuki plans to add 28 different models in next seven years

livemint.com:

Automaker Maruti Suzuki India has planned to add about 28 different models in the next seven years, according to the company's Chairman R C Bhargava. The company is kicking off the 'Maruti 3.0' strategy to ramp up its production too. Bhargava, during his address to the company's shareholders in the Annual Report for 2022-23 added that the company has aimed to add another 20 lakh units of production capacity in nine years.

"What is now being planned can be said to be the start of 'Maruti 3.0'. Our first phase was when we were a public enterprise. The second phase ended with the Covid pandemic, and the Indian car market became the third largest in the world.

The challenges before the company are unprecedented. It took us 40 years to create a capacity of 2 million units and SMC (Suzuki Motor Corporation) helped in this process by establishing the Gujarat facility. Your company now has to add the next 2 million in a period of 9 years," Bhargava told Maruti's shareholders.

Further, the chairman hinted at possible structural reorganisation. He said, "The task of managing all the issues relating to the production of 40 lakh units a year requires considerable thought and possible reorganisation of the structure of the company keeping in view the best interests of all shareholders as well as other stakeholders of the company. We will, as soon as possible, announce what we are proposing".

The MSI chairman shared details about the new production plants of the company. He added, "Work is progressing at the first site in Kharkhoda, Haryana, and it is expected that the first plant of 250,000 capacity will start production in the first half of 2025. Thereafter, one similar plant will be added each year to reach a capacity of one