Maruti Suzuki plans to invest over $5.5 billion in doubling production capacity

12 May 2023 , 09:29 AM

Maruti Suzuki is looking to double production – by investing more than $5.5 billion-  to four million vehicles a year by 2030 to increase local market share and boost exports, according to a report in Economic Times.

Maruti is the largest carmaker and likely to invest around Rs 45000 crore to commission eight assembly lines with annual production capacity of 250,000 units each across two new facilities, cited report.

Maruti Suzuki chairman RC Bhargava said, “ We have received approval to add capacity of up to one million units at Kharkhoda and in-principle approval for another one million units at a new site, which is yet to be finalised, but the phasing of projects and timelines for commissioning the assembly lines will depend on business requirements.”

“Looking at future demand, the likely market size in the next eight years, we would need to set up an additional production capacity of one million units,” Bhargava added. “This would be in addition to the one million units’ production capacity planned at Kharkhoda.”