RC Bhargava.
New Delhi:
Maruti Suzuki India plans to double its annual production capacity to 40 lakh units in eight years at around Rs. 45,000 crore is planned to be invested. Chairman of the company RC Bhargava gave this information on Tuesday. He told Maruti Suzuki’s annual general meeting that the company will consider shareholders’ suggestions for share split at the board meeting.
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Bhargava said that the global auto industry is striving for net zero carbon emissions and in this direction Maruti Suzuki is promoting the use of technologies like electric vehicles (EV), hybrid, CNG, ethanol-blended and compressed biogas.
He said that it is difficult to predict what will happen in the next 8-10 years in terms of new technologies.
Addressing the shareholders, Bhargava said the company has reached production and sales of 2 million units in 40 years and plans to add another 2 million units in the next eight years.
He said, “The times ahead will be extremely uncertain and challenging. We have to spend Rs 45,000 crore to build a capacity of 20 lakh cars. However it will depend on inflation.
He said that under ‘Maruti 3.0’, the company aims to increase production capacity to two million units by 2030-31 by introducing around 28 different models in the market.