- Maruti Suzuki will invest Rs 350 billion to build a new plant in Gujarat
- The plant will add production capacity of around one million vehicles yearly
- Production is expected to begin in fiscal year 2029 to meet growing demand
Maruti Suzuki is set to invest Rs 350 billion or Rs 35,000 crore into a plant it plans to establish in Gujarat as per a statement from its authorities on Saturday cited by Reuters. The plant will contribute a production capacity of around one million vehicles per year for the firm as as a part of its plans to manufacture to match the increasing demand in India, the world's third-largest car market, and for exports, the Gujarat state government said in a statement.
Production at the plant is likely to commence in the fiscal 2029 and will add to the yearly production capacity of 2.4 million vehicles for Maruti, an auto firm that is majority-owned by Japan's Suzuki Motor, Maruti Suzuki is also India's top carmaker as per domestic sales.
The firm has an order backlog of about one and a half months for its entry-level models, marketing and sales head Partho Banerjee, said earlier this month.
The company stated that its sales to domestic dealers went up 37% in December to a record 1,78,646 units.
Maruti's board of directors approved an initial investment of Rs 49.6 billion this week for the accquisition of land land for their plant.
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