Maruti Suzuki, India's largest car maker will invest nearly $1.3 billion to set up a new plant, likely in the western
Gujarat state, its chairman said on Wednesday.
The Chairman said though we had visited the state but have yet not decided on the location of the plant. The finalization of the location for the new plant will be made only in end-October.
Maruti, 54.2 percent owned by Japan's Suzuki Motor, is facing intensifying competition from the likes of South Korea's Hyundai Motors , the second-largest car maker in India, as well as domestic rivals. Hyundai earlier said it is all set to launch its 800cc car in the market. The car would be launched in October. The company has plans to get maximum volumes during the festive season.
Besides, an ongoing strike at its Manesar plant in northern Haryana state has hurt the production of its popular Swift model, raising doubts about the firm's ability to maintain sales growth. Suzuki, which controls almost half the Indian car market through its majority stake in Maruti, had said last week its chairman and CEO, Osamu Suzuki, visited Gujarat earlier this month.
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