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Maruti Suzuki: Media sources indicate government approval for expansion

News: According to media sources, Maruti Suzuki has received the state government's approval for setting up a third passenger vehicle manufacturing plant in Haryana in the Sonipat district

Views: Maruti already has two manufacturing plants in Haryana with a combined annual capacity of ~15 lakh units, which combined with Suzuki's plant in Gujarat takes its effective annual capacity to ~22.5 lakh units. This is amid ~18.2 lakh units of sales volume that we expect for MSIL for FY23E. We are little surprised by the location of the new plant as it is far off from its existing belt in the state i.e. Gurugam, Manesar. We await official communication from the company on the same