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regular-article-logo Wednesday, 22 May 2024

Maruti Suzuki to invest Rs 35000 crore to set up its second manufacturing unit in Gujarat

Speaking at the Gujarat business summit, Suzuki said the plant would have an installed capacity of 10 lakh units per annum

Our Special Correspondent New Delhi Published 11.01.24, 10:24 AM
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Maruti Suzuki India will invest Rs 35,000 crore to set up its second manufacturing facility in Gujarat as it looks to ramp up its annual production capacity to over 40 lakh units by 2030-31, Suzuki Motor Corporation president Toshihiro Suzuki said.

Speaking at the Gujarat business summit, Suzuki said the plant would have an installed capacity of 10 lakh units per annum.

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The new plant is expected to start operations in 2028-29. He did not offer any details on the location of the plant and models to be produced from there.

Maruti’s annual production capacity in Gujarat will reach 2 million (20 lakh) units — 10 lakh units at Suzuki Motor Gujarat and 10 lakh units at the second new plant, he said.

Japanese auto major Suzuki Motor Corporation (SMC) has around 58 per cent stake in Maruti Suzuki India.

The first battery electric vehicle (BEV) from the Suzuki group will be rolled out from Suzuki Motor Gujarat by the end of this year. “We plan to sell this model not only in India but also export to Japan and European countries,” Suzuki said.

He said Maruti will establish a fourth production line, which will become operational by 2026-27, at the Suzuki Motor Gujarat (SMG) plant at an investment of Rs 3,200 crore to increase the capacity of electric vehicles (EVs).

This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 lakh to 10 lakh units.

The car maker has already announced that it will launch its maiden electric model,
the eVX electric SUV, in
2024-25.

SMG, which is a wholly owned subsidiary of Maruti, achieved the production milestone of 3 million units in December.

Maruti’s board of directors recently approved the acquisition of SMG from SMC for a total purchase consideration of Rs 12,841.1 crore.

Maruti currently has two plants in Haryana, one in Manesar and the other in Gurgaon. The annual production capacity is 800,000 units at the Manesar plant and 700,000 units at Gurgaon.

The company’s third plant in Haryana is coming up at Kharkhoda.

It will start operations in 2025 with an annual production capacity of 250,000 units, with Maruti planning to raise it to 10 lakh units.

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