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India’s largest carmaker Maruti Suzuki will likely invest over $5.5 billion (over Rs 45,000 crore) to double production capacity to 4 million vehicles by 2030. This is aimed at increasing the automaker’s local market share and boosting exports. Maruti Suzuki will commission 8 assembly lines with an annual production capacity of 2,50,000 units each across 2 new facilities, The Economic Times reported citing people aware of the matter.
An industry executive said on condition of anonymity that the cost outlay can go up depending on the timelines for the units’ commissioning and cost escalation. Construction for the first unit at Haryana’s Kharkhoda has commenced. Maruti Suzuki currently has a total installed capacity of 2 million units in Gujarat’s Mahesana and Gurugram’s Manesar.
MSI Chairman RC Bhargava told the publication in an interview the company received approval to add capacity of up to one million units at the Kharkhoda plant. Bhargava further said the company received in-principle approval for another one million units at a new site. Of the total 4 million planned, one million will be from exports and original equipment manufacturers (OEM) sales.
The remaining capacity planned will enable the automaker to achieve its 50 per cent market share, up from 41 per cent in 2022-23. RC Bhargava said: “Our intent is to get back our market share as close as possible to the 50 per cent we have had in the past”. The company is also planning a series of launches in the SUV and electric vehicle (EV) segments.
Maruti Suzuki was also the largest passenger vehicles (PVs) exporter from India for the second year in a row in FY23. The automaker is targeting 7,50,000 exports by the end of the decade, up from 2,59,000 units in the last fiscal.
At the time of writing this story, Maruti Suzuki shares were up over 1 per cent to trade at 9,262.15 apiece on the BSE and up over 1 per cent to trade at 9,260 apiece on the NSE
@Skull and Bones @Raj-Hindustani @Cheepek @MilSpec @migflug @ni8mare @Bilal9
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An industry executive said on condition of anonymity that the cost outlay can go up depending on the timelines for the units’ commissioning and cost escalation. Construction for the first unit at Haryana’s Kharkhoda has commenced. Maruti Suzuki currently has a total installed capacity of 2 million units in Gujarat’s Mahesana and Gurugram’s Manesar.
MSI Chairman RC Bhargava told the publication in an interview the company received approval to add capacity of up to one million units at the Kharkhoda plant. Bhargava further said the company received in-principle approval for another one million units at a new site. Of the total 4 million planned, one million will be from exports and original equipment manufacturers (OEM) sales.
The remaining capacity planned will enable the automaker to achieve its 50 per cent market share, up from 41 per cent in 2022-23. RC Bhargava said: “Our intent is to get back our market share as close as possible to the 50 per cent we have had in the past”. The company is also planning a series of launches in the SUV and electric vehicle (EV) segments.
Maruti Suzuki was also the largest passenger vehicles (PVs) exporter from India for the second year in a row in FY23. The automaker is targeting 7,50,000 exports by the end of the decade, up from 2,59,000 units in the last fiscal.
At the time of writing this story, Maruti Suzuki shares were up over 1 per cent to trade at 9,262.15 apiece on the BSE and up over 1 per cent to trade at 9,260 apiece on the NSE
@Skull and Bones @Raj-Hindustani @Cheepek @MilSpec @migflug @ni8mare @Bilal9
Maruti Suzuki India plans to invest over $5.5 bln to double capacity by 2030 - ET
Maruti Suzuki India Ltd , the country's top carmaker, will likely invest more than $5.5 billion to double its production capacity to four million vehicles a year by the end of 2030, the Economic Times reported on Friday, citing sources aware of the plans.
www.reuters.com
Maruti Suzuki to invest $5.5 bn to double production capacity by 2030
Maruti Suzuki will commission 8 assembly lines with an annual production capacity of 2, 50,000 units each across 2 new facilities
