Maruti Suzuki plans to double its capacity by 2030 with additional investment of more than$5.5 billion

Maruti Suzuki is in plans to invest more than $5.5 billion to double its production by the end of this decade. The auto manufacturers plan is to increase their market share in the local economy and also boost the exports, by taking the production to up to 4 million vehicles per year, as confirmed by multiple sources aware of its plan.

The country’s largest carmaker is likely to invest abouts Rs 45,000 crore to commission eight assembly lines with annual production reaching up to 250,000 units each across two new facilities.

At current cost, Rs 45,000 crore is required to build up manufacturing unit capable of producing an additional two millions units, said an industry executive to The Economic Times, who wishes to stay anonymous. The source added that the cost of investment might increase over the time, if it takes more time than expected.

Construction for its first unit at Kharkhoda, Haryana, has already commenced.

RC Bhargava, chairman of Maruti Suzuki, has disclosed to the news agency that the company has received approval for ramping up the production by one million units at Kharkhoda. Another approval for an additional one million units at the new manufacturing is yet to be finalised.

The carmaker currently has access to a total installed capacity of two million units across Gurgaon, Manesar and Mehsana, Gujarat.