India’s largest carmaker Maruti Suzuki India has paid Rs 2,100 crore to Haryana State Industry Development and Infrastructure Corporation or HSIIDC for the acquisition of 800 acres of land in Haryana’s Sonepat district of Haryana to create a third plan. The automaker will invest 11,000 crore in the first phase to set the installed capacity at 250,000 units, and hopes to further expand capacity and achieve full capacity utilization of 1 million units in the next eight years.
The amount of 2131 crore was paid by Maruti to HSIIDC, and Suzuki Motorcycle contributed 266 crore. The total amount of Suzuki’s investment in land is 2366 crore rupees. Haryana’s chief minister said it was one of the biggest deals for Haryana’s government.
“Maruti Suzuki India was skeptical about investing in Haryana for its third plant, but we were able to get them to invest as the property next to the future IMT Kharkhoda offers great links to rail, road and air transport as well as access to a hard-working workforce.” said Haryana Chief Minister ML Hattar.
Maruti Suzuki clarified that the investment in the two-wheeled plant will be separate and will be announced at the appropriate time.
Kenichi Ayukova, executive of the VC, added that “The growth of Maruti and Haryana is interrelated. We hope that India will become the third largest car manufacturer in the world in the coming years, and Haryana is playing a big role. It’s a great place to make cars for the domestic and export markets. ”
The first plant with a capacity of 250,000 units is likely to be commissioned in 2025. Speaking further, Chairman R. K. Bhargava explained that Kharkhoda will be the largest car hub in India and will be an example of what government and industry need to work with mutual trust, and this is the way forward: “The potential for India’s future growth is huge for both domestic and and for export products. Depending on market conditions, Maruti will reach a full capacity load of 1 million units in about 8 years ”.
Bhargava added that Maruti Suzuki India will focus on the production of conventional cars with internal combustion engines at the new plant, and the EV from the carmaker, the first of which will be released in 2025, will be produced at a wholly owned Suzuki plant in Gujarat. “There is no need to duplicate the production of EV, which is currently assigned to Gujarat. If and when there will be a need for production of EV in Harkad, we will make this decision,” Bhargava added.
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Maruti Suzuki has targeted 1 million units from the Sonepat plant in 8 years
2131 crore rupees Maruti paid the largest HSIIDC transaction for the Haryana government; the carmaker is betting on India’s future growth potential.