Maruti to invest Rs 35,000 cr to set up second plant in Gujarat
The new plant is expected to start operation in FY2028-29. Details of location and the models to be produced will be shared in due course.
Representative Image (IANS)
GANDHINAGAR: Maruti Suzuki India (MSI) will invest Rs 35,000 crore to set up its second manufacturing facility in Gujarat as it looks to ramp up annual production capacity to over 40 lakh units by 2030-31, Suzuki Motor Corporation President Toshihiro Suzuki said here on Wednesday.
Speaking at the Summit, Suzuki said the plant would have an installed production capacity of 10 lakh units per annum. “We will invest Rs 35,000 crore for the construction of a second car plant in Gujarat which would produce another one million units per year,” Suzuki said.
The new plant is expected to start operation in FY2028-29. Details of location and the models to be produced will be shared in due course.
As a result, the annual production capacity in Gujarat will be 2 million (20 lakh) units - 10 lakh units at Suzuki Motor Gujarat and 10 lakh units at the second new plant, he added.
Japanese auto major Suzuki Motor Corporation has around 58 per cent stake in MSI. Suzuki noted that under the strong leadership and consistent support of Prime Minister Narendra Modi for manufacturing industries, the Indian automobile market has been expanding steadily.
As a result, India has become the third largest automobile market in the world, he noted. “We have also scaled up production capacity substantially in India. It is noteworthy that as compared to 10 years ago, we expect 1.7 times in vehicle production and 2.6 times in export sales in the current fiscal year,” Suzuki said.
He stated that 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,” he added.
Besides, in order to expand the BEV production in future, Suzuki Group will invest Rs 3,200 crore in Suzuki Motor Gujarat to add a new fourth production line which can produce 2.5 lakh units per year, Suzuki stated. This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 lakh to 10 lakh units, he noted.
