Maruti Will Invest Rs 11,000 Crore In This 800-Acre Manufacturing Facility In Haryana: 2.5 Lakh Cars/Year Is The Target!
The car manufacturer Maruti Suzuki has made an important announcement.
The company has settled on a land site for constructing it’s new manufacturing facility in Haryana. Maruti has been conversing with the state government for the investment of a new facility under the proposed expansion plan.
The company completed the allotment process of an 800-acre site at IMT Kharkhoda in the Sonipat district with the Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC).
The initial production capacity of the new manufacturing facility may be expanded in the future
The automaker revealed that the first manufacturing facility at the new site is going to boast the production capacity of 250,000 vehicles per year. The facility is expected to be contracted by the year 2025 but it is subject to administrative approvals. In the first phase Maruti is going to invest approximately Rs. 11,000 crores for building the car manufacturing facility. The land site is going to have enough space for capacity expansion and more production plants could be added in the future said the company in a regulatory filing.
The new facility is going to be used to expand production capacity for the company’s existing model range and is not specific to battery electric vehicles. The Gurgaon and Manesar plants are going to continue to operate at full capacity.
Maruti is trying to recover from the big hit it took during the pandemic
Maruti Suzuki has been on a road to recovery with the model introducing updated models back to back this year. The company took a big hit during the pandemic due to supply-chain constraints and the shortage of new products during this period. This also led to Maruti Suzuki’s market share decreasing to 41.6% as opposed to well over 50% in the pre-pandemic era. But, the automaker plans to go all out this year with more launches planned that will help in restoring its market share. In addition to the next-generation Vitara Brezza, the automaker is also developing a new compact SUV with Toyota which is also expected to be launched later in this year.