Maruti expands business scope: Board approves major changes to company's memorandum

Maruti Suzuki India today announced that its Board has given a green light to amend its Memorandum of Association (MoA), paving the way for the country's largest carmaker to enter new segments, such as integrated mobility services, electric vehicle infrastructure, carbon credits trading and vehicle recycling.

The Board has decided to delete an old clause related to Maruti's original asset acquisition from the government of India. The proposed changes will now be placed before the shareholders for approval at the company's upcoming Annual General Meeting on August 28, 2025.

"Pursuant to Section 13 and other applicable provisions, if any, of the Companies Act, 2013, and rules made thereunder and subject to the approval of the members of the company, and of the Registrar of Companies (Delhi), the Board accorded its approval for effecting the alterations in the existing Object Clause III(a) of MoA of the company...," Maruti said in a regulatory filing.

According to the official announcement, the Board has endorsed the introduction of several new business areas. These include operating subscription-based fleet and mobility services, engaging in the buying and selling of pre-owned vehicles, establishing electric vehicle charging and battery swapping stations, and managing environmental initiatives like carbon credit trading. The company will also now be able to operate facilities for the collection and recycling of end-of-life vehicles and industrial scrap.