Maruti Suzuki India, the country’s top carmaker, will likely invest more than $5.5 billion to double its production capacity to four million vehicles a year by the end of 2030.
The company plans to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production.
According to Reuters, Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production.
Maruti Suzuki will commission 8 assembly lines with an annual production capacity of 2,50,000 units each across 2 new facilities, according to Economic Times.
Currently, Maruti Suzuki’s annual capacity in India stands at 2.25 million units, combining plants in Haryana in the north and Gujarat in the west.
Operations are slated to start at a new plant in Haryana in 2025, separate from the newly announced expansion. That means the automaker’s total capacity could nearly double, topping 4 million units annually, when including all expansion plans.
Ravindra Chandra Bhargava, Chairman, Maruti Suzuki India said that his company analyzed the potential market size for the next eight years, suggesting that the ambitious expansion plan is premised on the significant growth of the Indian and African markets.
He further said, “We will add a capacity of up to one million units at the Kharkhoda plant. And the company received in-principle approval for another one million units at a new site. Of the total 4 million planned, one million will be from exports and original equipment manufacturers’ (OEM) sales.”
