Maruti Suzuki India Limited (MSIL), the country’s largest passenger car maker in terms of market share, is planning an investment to the tune of $5.42 billion over the next eight years to double its production to 4 million cars per year, company chairman R. C. Bhargava said in a statement on Thursday, August 31.
Mr. Bhargava said that the company had taken 40 years to reach a production and sales target of 2 million cars per year and will now target an annual production and sales target of 4 million units within the next eight years.
The expansion project to be completed by the fiscal year 2030-31 will see the company’s product portfolio reach 28 models of passenger cars, he said.
