Maruti Suzuki India will invest Rs 35,000 crore to set up a second manufacturing facility in Gujarat, Suzuki Motors President Toshihiro Suzuki announced on Wednesday.
Speaking at the 10th Vibrant Gujarat Global Summit (VGGS) here, Toshihiro said the factory will have an annual production capacity of one million units.
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“We will invest Rs 35,000 crore in the construction of a second automobile plant in Gujarat, which will produce another 1 million cars per year.As a result, the annual production capacity in Gujarat will be 2 million cars, and Suzuki For automobiles, it will be 1 million units. We will produce 1 million units in Gujarat and at our second new plant,” Suzuki said.
Suzuki Motors holds about 58% stake in Maruti Suzuki India, and the company plans to add another 2 million units of production capacity and bring about 28 different models to the market by 2030-31. That’s what I’m aiming for.
Currently, the auto major has a cumulative production capacity of around 2.2 million units per year from its two manufacturing plants in Haryana and Gujarat.
The two plants in Haryana, Gurugram and Manesar, have a combined production capacity of approximately 15.5 million units annually.
Suzuki Motor Gujarat, a division of the company, has also set up a facility in Gujarat with an annual production capacity of 7.5 million units.
Moreover, the automotive market leader is already preparing to set up a new manufacturing plant in Sonipat, Haryana, with an investment of Rs 11,000 crore in the first phase.
The first phase of the new factory, which has a production capacity of 250,000 units per year, is expected to be operational by next year.