Maruti Suzuki, India’s largest carmaker, has increased its capital expenditure (capex) outlay for FY22 to Rs 6,700 crore and plans to set up a new manufacturing plant, a top company official said.
This will be the first time Maruti Suzuki invests in fresh capacity creation in over 15 years. The last time the company set up a new plant was in 2007, in Manesar, Haryana.
The comparatively newer Gujarat plant, which manufactures the Swift, Baleno, and Dzire, is owned by a subsidiary of Maruti’s parent, Suzuki Motor Company, called Suzuki Motor Gujarat (SMG).
The Rs 2,200 crore investment plan is part of the company’s 10-year, Rs 17,000-18,000 crore investment plan, which envisages capacity creation of 1 million units per annum. This new plant will come up in Haryana, which has been home to Maruti Suzuki since its birth in 1983.