Maruti Suzuki India aims to double turnover to around ₹1.68 lakh crore by 2030-31, says CEO Hisashi Takeuchi

The country largest car manufacturing firm Maruti Suzuki is aiming to double its turnover to around ₹1.68 lakh crore by 2030-31 from FY22 level, said the firm's company Managing Director and CEO Hisashi Takeuchi said on 5 July.

The firm is expecting India to 'play a very big role' in Suzuki Motor Corporation's goal to achieve a global turnover of ₹4.32 lakh crore in FY30-31, which would be exactly double the turnover of ₹2.16 lakh crore achieved in FY21-22, said Takeuchi.

When asked if Maruti Suzuki India was also looking to double its turnover like its parent Suzuki, Takeuchi said, "Yes, of course".

"We will invest for the production facility, we will invest for human resources so that we will be able to handle such a big volume by 2030. So that is our plan," he said.

ALSO READ: Maruti Suzuki shares cross ₹10,000, market cap crosses 3 lakh crore

In 2021-22, Maruti Suzuki India clocked net sales of ₹83,798 crore.

Speaking on the sidelines of the firm's launch of the premium multi-purpose vehicle Invicto, Takeuchi said part of the investment would also come from Suzuki's planned investment of around ₹2.8 lakh crore by FY30-31.

The investment by Suzuki is towards enriching products, bringing new technologies, and setting up new facilities, he added.

"Right now, we have almost like a 2.2 million production capacity, together with SMG (Suzuki Motor Gujarat), and this production capacity should go beyond 4 million for that almost 2 million additional capacity is required," he added.

Adding more, he said that the additional investment would be over and above those required for new technology like electric vehicles and batteries.

On the issue of construction at the company's new manufacturing facility at Kharkhoda in Haryana, he said, "We plan to commission the first plant with an annual manufacturing capacity of 2.5 lakh units by 2025."

Further, he said, "Once fully operational, the facility will have an annual capacity to manufacture 10 lakh vehicles and will be one of the world's largest single-location manufacturing sites."

In addition, he said, "We have received the Board approval for expanding our production capacity to manufacture up to 10 lakh additional units per annum over and above Kharkhoda."

Stating the firm's entry into the above ₹20 lakh category as a 'big challenge', Takeuchi said it has no experience in it but the market is evolving very fast, therefore, had to make a foray to maintain leadership in the MPV segment.

With agency inputs.