- By Divanshi Sharma
- Wed, 10 Jan 2024 03:23 PM (IST)
- Source:JND
Maruti Suzuki, one of India’s leading automobile manufacturers has revealed plans to invest Rs 35,000 crore in Gujarat. The manufacturer has made this announcement with the aim to further strengthen its position in the automotive industry of the country, in the upcoming years. Toshihiro Suzuki, President of Suzuki Motor Corporation made this announcement at the ongoing Vibrant Gujarat Global Summit.
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Maruti Suzuki has shared plans to build a second car manufacturing facility in Gujarat, along with adding a fourth production line to the existing plant. This investment will significantly increase the annual production capacity of the manufacturer from the current 750,000 units to 2 million. The new production line is anticipated to start operating in the financial year 2027, while the new plant is expected to be operational around 2028-2029. Details regarding the specific location and the models to be produced will be disclosed closer to time.
The company’s plan to establish this manufacturing facility in Gujarat is in line with their objective of achieving a production capacity of around 4 million units in India by the fiscal year 2030-31. This strategic move is aimed at preparing for the expected growth in the Indian automobile market. Toshihiro Suzuki, addressing the Vibrant Gujarat Global Summit said, “In this ever-growing country, we will provide a variety of sustainable mobility options by focusing on Indian customers.”
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Additionally, Toshihiro Suzuki revealed plans for the brand’s first electric vehicle, eVX to be manufactured at Maruti's existing Gujarat plant, with its launch anticipated to take place by the end of 2024. The eVX will not only be launched in India and Europe but will also be exported to Japan, marking the first time Maruti exports to Suzuki's home country. Maruti, holding over 40% market share in India, aims to introduce six electric vehicle models by 2030.