Maruti says it aims to double car-production capacity by 2031

Bloomberg:Maruti Suzuki India Ltd. aims to double production to about 4 million vehicles a year by 2031 by introducing new models and boosting exports, according to the latest annual report from India’s biggest carmaker.

The New Delhi-based company, which exports its cars from South Africa to Chile, plans to triple overseas sales to 800,000 units by the fiscal year ending March 2031 and is looking to expand production capacity in India, Chairman R.C. Bhargava said in a message to shareholders published in the annual report.

“The domestic plus export requirements have made it necessary” to add manufacturing capacity for another 2 million vehicles, Bhargava said. Maruti has already announced that it is setting up a factory in Kharkhoda in the northern Indian state of Haryana, which will be able to produce 1 million cars a year, and is in the process of selecting a second site in India for another plant.