Maruti Suzuki to pump in Rs 38,200 crore in Gujarat
Maruti Suzuki India will be investing a cumulative Rs38,200 crore in Gujarat as part of a broader plan to double the output in India to 4 million units by FY31.
In his address at the Summit's inaugural event, T Suzuki, representative director and president Suzuki Motor Corp said that the Indian automobile market has been expanding steadily. As a result, India has become the third largest automobile market in the world.
«We, Suzuki, has also scaled-up production capacity substantially in India, Suzuki said at the Summit.
It is noteworthy that as compared to 10 years ago, we expect 1.7 times in vehicle production and 2.6 times in export sales in the current fiscal year. Thanks to Prime Minister, (Mr) Modi's progressive approach and India's growth, we will invest in the future also,» he noted.
As part of the plan, the local arm of the Japanese carmaker will set up a million unit per annum capacity plant in Gujarat, the company's second in the state and fifth in the country, The production at the plant is likely to start in FY29.
Maruti will disclose the production and other details at a later stage.
Meanwhile, Suzuki Motor Corp will add a fourth production line to its wholly-owned subsidiary Suzuki Motor Gujarat. It would be investing Rs3200 crore to increase production of electric vehicles in the future.
The fourth line is expected to start operation from FY2026-27.
With the completion of the fourth line, annual production capacity of SMG will increase from the current 750,000 units to 1 million units. Combined with the new plant in Gujarat, the total annual production capacity in Gujarat will be 2 million units.
The aforementioned expansion and the new plant in Kharkhoda, Haryana which is planned to commence
