The automaker has completed the process of allotment of an 800-acre site at IMT Kharkhoda in Sonipat district with the Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC). Maruti Suzuki has confirmed that the first manufacturing facility at the site will have a production capacity of 2,50,000 vehicles per year.
It is expected to be operational by the year 2025 subject to administrative approval. In the first phase, the Indian auto giant will invest around Rs 11,000 crore to build the manufacturing facility. The land site will have room for capacity expansion and include more production plants in the future, the company said in a regulatory filing.
The new facility is believed to be used to expand production capacity for the company’s existing model range and will not be exclusive to battery electric vehicles. The Gurgaon and Manesar plants will continue to operate at full capacity.
Maruti Suzuki is on a recovery track this year with the model offering updated models back to back. The company has been one of the biggest hit during this period by the pandemic supply-chain bottlenecks and paucity of new products. Due to this the market share of Maruti Suzuki came down to 41.6 per cent, which was over 50 per cent in the pre-pandemic era.
However, the automaker plans to go aggressive with more launches this year, which will help revive its market share. Apart from the next-gen Vitara Brezza, the company is also developing a new compact SUV with Toyota, which is expected to arrive later this year.
Let us tell you that recently information was revealed that India’s largest car maker is leaving no stone unturned to regain its lost market share and due to this a new chief executive was appointed for the Indian market. Is.
With the appointment of a new Chief Executive, the company is all set to come back with new strategies. The new CEO of Maruti Suzuki India, Hisashi Takeuchi during an interview admitted that the increasing competition from rival car makers and especially in the SUV segment is getting more severe.