Maruti Suzuki to invest over ₹7,410 cr to set up third plant in Haryana

The new plant is likely to take the company's capacity in the region to 750,000 units per year by 2029

Automobile manufacturer Maruti Suzuki India Limited will invest ₹7,410 crore (nearly $864 million) to set up a third manufacturing plant at Kharkhoda in Haryana, the company said in a regulatory filing on Wednesday.

 

According to the statement submitted to the stock exchanges, Maruti Suzuki said the new plant will take the company's capacity in the region to 750,000 units per year by 2029.

 

Maruti has two plants at Kharkhoda in Haryana. One of the plants, which became operational in February this year, can manufacture 250,000 vehicles a year. Another plant is under construction and will also have the same capacity. The third plant announced today will also have the capacity to produce 250,000 vehicles every year, the company said.

 

 

"The proposed capacity addition would be up to 250,000 units per year. With this addition, the capacity at Kharkhoda is likely to reach 750,000 units per year," said Maruti.

 

Maruti Suzuki, headquartered in New Delhi, said the plant will be funded through internal accruals, adding the rationale behind setting up of the third plant is growth in market demand including exports.

 

Maruti has the highest share of car exports from India, at about 40 per cent, the company said in December 2024.

 

The carmaker currently has three manufacturing facilities- two in Haryana and one in Gujarat.

 

The shares of the company were trading at ₹11,780.1, down 0.75 per cent on NSE at 14:32 pm. The fall in the Maruti Suzuki share price came after the company received a draft Assessment Order for the FY 2021-22 wherein certain additions/ disallowances amounting to ₹2,966 crore with respect to returned income (the income disclosed by the Company in its Income-Tax return) have been proposed.