Maruti Suzuki shares were trading marginally lower, even as Suzuki Motor Gujarat Private Limited (SMG), a 100% subsidiary of Suzuki Motor Corporation for the production of automobiles in India, has completed construction of the Plant C, and started production from April 2021.
All automobiles that will be produced in SMG will be supplied to Maruti Suzuki.
Suzuki established SMG in March 2014, aiming to secure production ability in preparation for the automobile market growth in India, as well as for expansion of exports from India. The Plant A started operating in February 2017, and the Plant B and Powertrain Plant in January 2019. In October 2020, SMG became the fastest production site of Suzuki to achieve accumulated automobile production of 1 million units. With production starting at the Plant C, which has an annual production ability of 250,000 units, together with Plant A and Plant B, the total ability of SMG will be 750,000 units. Together with Maruti Suzuki's production ability of 1.5 million units, Suzuki's production ability of automobiles in India will be 2.25 million units.
" Suzuki will continuously meet the automobile market demand in India, which is estimated to grow further, and also encourage exportation to the global market, thus contributing to the "Make in India" initiative promoted by the Government of India," a release to the exchanges stated.