Leading car maker Maruti Suzuki has expanded capacity at its Kharkhoda plant in Haryana, as it commissioned the Phase 1 of the manufacturing facility with an annual production of 2.5 lakh units from February 25, the company informed in an exchange filing.
The management had previous guided for the Kharkhoda capacity expansion by the fourth quarter of the fiscal.
The car maker has said in the past that it is preparing for an increased competitive intensity in India's automotive space, which will improve the manufacturing standard as well as expand the market.
Maruti, a late entrant in India's EV space, recently launched the eVitara, which will be made in India for the world, exported in 100 countries. The company aspires to the largest maker of EVs in India within the first year of commencing production. Maruti Suzuki had clocked an export revenue of Rs 6,500 crore during Q3FY25, a record for the company.
The leading car manufacturer has also recently launched the 'e for me' initiative to enhance EV adoption, under which it will provide smart home chargers and fast charging support in 100 cities, as well as roll out service workshops for electric vehicles.
India's automotive sector has been grappling with a subdued demand, which Maruti expects will be a challenge. To offset inflationary pressure, the car company, along with its key rivals have undertaken price hikes.
Despite demand concerns, Maruti Suzuki is upbeat and has set a production milestone of two million units in a calendar year.
This is being updated.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
