Maruti Udyog Ltd has started production of cars at its new plant in Manesar and hopes to reach full production capacity of 3,00,000 units in the new plant by the middle of 2008.
The company, which began production at Manesar last month, has shifted the production of its popular premium hatchback 'swift' to the new plant, company Managing Director Jagdish Khattar said.
Maruti currently has a capacity of around 6,00,000 units at its existing manufacturing facility at Gurgaon and Khattar said the company will initially scale up production levels to 1,00,000 units at the new Manesar plant, in which the company will invest a total of Rs 1,524 crore.
The company will be manufacturing its proposed new compact car at the new facility which will be meant both for the domestic as well as the export market.
Khattar said the company will invest a total of Rs 9,000 crore by 2009-10, of which Rs 4,000 crore will be pumped in the existing Gurgaon facility for launching new models, expansion, automation and for new engine series.
The balance investments would be for the Manesar plant as well as the company's diesel engine plant.
Backed by the massive investments and new model launches, Maruti is eyeing sales of one million cars in 2010. The company, in which, Japan's Suzuki Motor Corp owns 54.2 per cent stake, plans to launch five new models over the next five years.
Backed by high sales and realisations, the company reported a 40 per cent rise in net profit in the quarter ended September 30 at Rs 367.4 crore while its total income (net of excise) shot up 12.5 per cent at Rs 3,540.8 crore.
The company, which began production at Manesar last month, has shifted the production of its popular premium hatchback 'swift' to the new plant, company Managing Director Jagdish Khattar said.
Maruti currently has a capacity of around 6,00,000 units at its existing manufacturing facility at Gurgaon and Khattar said the company will initially scale up production levels to 1,00,000 units at the new Manesar plant, in which the company will invest a total of Rs 1,524 crore.
The company will be manufacturing its proposed new compact car at the new facility which will be meant both for the domestic as well as the export market.
Khattar said the company will invest a total of Rs 9,000 crore by 2009-10, of which Rs 4,000 crore will be pumped in the existing Gurgaon facility for launching new models, expansion, automation and for new engine series.
The balance investments would be for the Manesar plant as well as the company's diesel engine plant.
Backed by the massive investments and new model launches, Maruti is eyeing sales of one million cars in 2010. The company, in which, Japan's Suzuki Motor Corp owns 54.2 per cent stake, plans to launch five new models over the next five years.
Backed by high sales and realisations, the company reported a 40 per cent rise in net profit in the quarter ended September 30 at Rs 367.4 crore while its total income (net of excise) shot up 12.5 per cent at Rs 3,540.8 crore.
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