Maruti Suzuki India (MSI) has completed the process of plant at IMT Kharkoda in Sonipat district of Haryana. Giving information about the new manufacturing plant to the stock exchange, the company said that it has completed the process of allotment of 800 acres of land at IMT Kharkhoda in Sonipat district. For this, the company has tied up with Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). The company will invest Rs 11,000 crore in the first phase for this manufacturing plant.
The plant will produce 2.5 lakh units every year.
The company said that the first phase of the new plant is expected to be completed by 2025. In this plant, the company will produce 2.5 lakh units every year. Administrative approvals related to the construction of the new plant are yet to be taken. In future, there will be room for further development of the Sonepat plant. At present, Maruti Suzuki has two plants. These are in Manesar of Gurugram and Hansalpur Becharaji village of Ahmedabad district of Gujarat. The company produces 20 lakh models annually in these plants. The OEM makes several hot-selling models in the small vehicle segment like WagonR, Swift, Alto, Eeco and Celerio.
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The market for hatchbacks is shrinking
The company plans to enter the medium-sized SUV sector soon. In such a situation, Maruti Suzuki is also looking to take an even bigger position in the large segment of passenger automobiles. RC Bhargava, chairman of Maruti Suzuki India, said about the current earnings that his small vehicle is like some bread and butter. However, now the small car market is shrinking. We have to change our technology. Because customers with limited income are exiting the automotive market due to increased prices. Now the market for hatchbacks has shrunk.