Leading vehicle manufacturer, Maruti Suzuki has completed 40 years in India. On the occasion, Prime Minister Narendra Modi inaugurated the company’s electric vehicle battery manufacturing plant at Hansalpur in Gujarat and the passenger vehicle plant at Kharkhoda, Haryana. This time Maruti Suzuki has decided to invest 10 thousand crores for the EV plants. Maruti Suzuki may start production of electric vehicles in India from 2025.
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Maruti Udyog Limited was established in India in the year 1981. It was a public sector company. In 1982, Japanese automaker Suzuki started a joint venture with Maruti. Over the past forty years, Maruti Suzuki has become the most preferred brand in the country. RC Bhargava is the Chairman of Maruti Suzuki India.
Aim to capture 50% of the market:
The country’s largest carmaker Maruti Suzuki India (MSI) is eyeing to regaining a 50 per cent share in the domestic market. Maruti is celebrating 40 years of operations in the country. The company’s market share fell to 43.38 per cent in the last financial year 2021-22, from a peak of 51.21 per cent in 2018-19.
Important takeaways for all competitive exams:
- Maruti Suzuki India Managing Director and CEO: Hisashi Takeuchi;
- Maruti Suzuki India Founded: 24 February 1981, Gurugram;
- Maruti Suzuki India Headquarters: New Delhi.