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- Feb 23, 2024
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Maruti Suzuki has been allotted 800 acres of land in Haryana to build a new production facility for cars. The carmaker plans to invest Rs 11,000 crore in the first phase of development, and the new plant is expected to come up by 2025.
The timeline for the new production facility coincides with the introduction of Maruti’s first electric vehicle (EV). Although the actual timeline for the plant’s development is subject to government approvals, the facility will nonetheless be capable of producing 2.5 lakh cars per year in its initial phase.
Later, the site could be expanded to include more manufacturing plants, Maruti says. The carmaker has already allocated Rs 3,100 crores to expand its production facility near Ahmedabad for EV manufacturing, and the same plant will get a battery manufacturing unit in 2026 at a cost of Rs 7,300 crore.
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Maruti has previously indicated that its first EV will debut in 2025. It’s likely that the Haryana facility will be used majorly for electric vehicles only.
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We expect the first Maruti Suzuki electric car to be priced between Rs 10 lakh and Rs 20 lakh. It’ll rival the Tata Nexon EV and the relatively affordable upcoming electric vehicles from carmakers such as MG, Mahindra and Hyundai.
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