Maruti Suzuki to set up its fourth plant in Haryana with Rs 11,000cr investment
Maruti Suzuki has narrowed down on a location for its fourth manufacturing facility in India. The country's largest carmaker's new facility will come up at IMT Kharkhoda in Haryana's Sonipat district. The plant is spread over 800 acres and will its first production phase in 2025.
Fourth Maruti Suzuki plant in India
The new plant will produce 2.5 lakh Maruti Suzuki cars in a year. The company will pump in Rs 11,000 crore in this first phase of expansion. Maruti's existing plants in Haryana at Manesar and Gurugram have a production capacity of 15.8 lakh units. Its third facility in Gujarat, run by parent Suzuki Motor, has a 5 lakh unit production capacity. Maruti Suzuki continues to be the clear market leader in India with 1,21,995 units sold in April 2022 at 41.6 per cent market share, despite losing some ground in recent months to home-grown rivals Tata Motors and Mahindra.
Maruti Suzuki EV production plans India
Maruti Suzuki's parent firm, Suzuki Motor Corporation, has announced that it will invest Rs 10,440 crore in India to set up an electric vehicle manufacturing facility and an EV battery plant in India. The company signed a memorandum of understanding(MoU) in this regard with the state of Gujarat on March 19 at the India-Japan economic forum.
As per this MoU, Suzuki will invest Rs 3,100 crore in its Suzuki Motor Gujarat manufacturing facility to expand it to support electric vehicle production by 2025. A further Rs 7,300 crore will also be invested in this facility to set up an electric vehicle battery plant in 2026. The remaining amount will be utilized by Maruti Suzuki Toyotsu to set up a vehicle recycling plant.
Maruti Suzuki parent to invest Rs 10,440 crore to manufacture electric vehicles and batteries in India
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