Maruti Announces Rs 35,000 Crore Plan For New Gujarat Plant

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Maruti Announces Rs 35,000 Crore Plan For New Gujarat Plant

| Updated: January 12, 2024 14:44

Acknowledging the support of Prime Minister Narendra Modi for the automotive industry, Maruti Suzuki has declared that the firm will pump in Rs 35,000 crore to establish its second manufacturing facility in Gujarat.

This expansion should scale the company’s annual production capacity in Gujarat to 20 lakh units, with 10 lakh units at Suzuki Motor Gujarat and 10 lakh units at the new plant, which should start operations in 2028-29.

Suzuki Motor Corporation president Toshihiro Suzuki made the announcement on January 10 during the 10th Vibrant Gujarat Global Summit (VGGS).

The new plant should have an installed production capacity of 10 lakh units annually.

The company should increase its annual production capacity to over 40 lakh units by 2030-31.

Media reports mentioned that Suzuki disclosed plans for the group’s first battery electric vehicle (BEV), which will be manufactured at Suzuki Motor Gujarat by the fall of 2024.

An investment of Rs 3200 crore will be made in Suzuki Motor Gujarat to support the production of BEVs and include a fourth production line equipped to produce 2.5 lakh units per year. The fourth line should be operational in the fiscal year 2026-27.

Reports added that Maruti Suzuki has initiated the construction of four biogas plants in association with the National Dairy Development Board (NDDB) and Banas Dairy in the state.

Also Read: Elon Musk Not Coming To Vibrant Gujarat Summit; Tesla Welcome To Invest Says Govt

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