Maruti Suzuki to infuse Rs 45,000 crore to double production capacity

30 Aug 2023 , 11:45 AM

Maruti Suzuki, the country’s largest automaker, plans to invest over Rs 45,000 crore to increase production capacity to four million vehicles per year by the end of the decade.

Maruti Suzuki chairman RC Bhargava stated at the firm’s annual general meeting on Tuesday that the company will use its financial reserves to quadruple production capacity by 2031.

He told shareholders that the company has two million production and sales in 40 years and is now planning to add two million in the next eight years. In the third part of its journey, the company plans to double its manufacturing capacity, sales, and turnover over the following eight years.

He stated on Tuesday that with governments throughout the world pressing for carbon neutrality, many technologies must be implemented to move to clean mobility.

To that aim, Maruti Suzuki is considering purchasing parent company Suzuki Motor Corporation’s Gujarat manufacturing facility, which produces 800,000-900,000 automobiles per year. It stated that acquiring Suzuki Motor Gujarat and managing it under a single management will increase efficiency in production processes as it extends its footprint.

At around 10.19 AM, Maruti Suzuki was trading 0.79% higher at Rs 9,697 per piece, against the previous close of Rs 9,621.25 on NSE. The counter touched an intraday high of Rs 9,704 crore and a low of Rs 9,610, respectively.

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