Maruti Suzuki will double production by 2030: company will invest more than 45 thousand crore rupees
Maruti Suzuki will double production by 2030: the company will invest more than 45 thousand crore rupees, and will also increase exports
India's largest car maker Maruti Suzuki will double its 40 million production capacity by 2030. For this, the company will invest more than 5.5 billion dollars (about 45.18 thousand crore rupees). By increasing production capacity, the company will increase its share in the local market as well as increase exports.
According to media reports, after this investment, the company will start 8 assembly lines in 2 new facilities with a production capacity of 2.50 lakh units. The construction of the first production unit started at Kharkhoda in Haryana.
According to the Economic Times, a company executive said on the condition of anonymity, “The timeline for starting the production units and the cost price may go up. Maruti Suzuki currently has plants at Mahesana in Gujarat and Manesar in Gurugram with a total production capacity of 2 million units.
RC Bhargava, chairman of Maruti Suzuki, told Economic Times in an interview that the company has received approval to increase production capacity by one million units at the Kharkhoda plant. Along with this, the company has got in-principle approval for one million unit production at another site.
Chairman RC Bhargava said that earlier we had around 50% market share, which we want to get back. Apart from this, he told that in the coming time, the company is planning to launch many SUVs and electric vehicles.
Maruti Suzuki has become India's largest passenger vehicle exporter for the second consecutive year in the financial year 2023. By the end of the decade, the company has set a target of exporting 7.50 lakh units, which was 2.59 lakh units in the last financial year.