Maruti Suzuki Unveiled its 3.0 Strategy, Outlining Plans for Structural Changes And New Cars

• Published On: 7 August 2023
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In nine years, Maruti Suzuki (MSIL) plans to add two million more units to its yearly production capacity as part of its third growth phase, the company's chairman, RC Bhargava, said to the company's shareholders on Saturday.

In nine years, Maruti Suzuki (MSIL) plans to add two million more units to its yearly production capacity as part of its third growth phase, the company's chairman, RC Bhargava, said to the company's shareholders on Saturday. For the business, which celebrated its 40th year in India last year, the initial phase focused on creating a local component manufacturing ecosystem and expanding its nationwide network. The goal of the second phase was to solidify the company's position as the market leader. Bhargava remarked on the upcoming stage, "The problems facing the firm are extraordinary. Suzuki Motor Corporation (SMC) assisted in this process by creating the Gujarat factory, and it took us 40 years to reach a capacity of 2 million units. Your business needs to add the subsequent 2 million in 9 years.

In order to manage all the concerns associated with producing 4 million units annually, the company may need to reorganize its organizational structure while keeping in mind the interests of all of its stakeholders, including shareholders. We will reveal what we are proposing as quickly as possible," he continued. Bhargava reported that construction is moving on at the company's site in Kharkhoda, Haryana and that the first plant, with a 2.5 lakh capacity, is anticipated to begin operations in the first half of 2025. After that, an additional plant of a similar design will be installed annually until it has a capacity of one million. The business is in the midst of choosing a second location to increase capacity by another million by 2030-31.

With this, the automaker's portfolio will grow from its current 18 models to about 28 different models over the course of the next seven years. As a result, it plans to raise its annual production capacity of cars by an additional 2 million by 2030–31. Currently, the firm sells nine models through Arena (Brezza, Ertiga, Dzire, Swift, Wagon-R, Alto K-10, Celerio, S-Presso, Eeco) and eight models through the high-end Nexa retail channel (Invicto, XL6, Grand Vitara, Jimny, Fronx, Baleno, Ignis, Ciaz). In the market for light commercial vehicles (LCV), it also provides the Super Carry.

By the end of the current fiscal year, the automaker is optimistic about taking the top spot in the SUV market.