
Capex boost: Maruti Suzuki to invest ₹1.25 lakh cr by FY31
The capex will be also utilised in scaling up the company's production capacity from 2 million units at present to 4 million units in the next 7 years.
The capex will be also utilised in scaling up the company's production capacity from 2 million units at present to 4 million units in the next 7 years.
Goyal's statement comes amidst Tesla's plan to enter the highly competitive domestic automobile industry.
Kant states that the country has a huge opportunity to helm the electric vehicle manufacturing segment
Following the announcement, the share price of Mahindra & Mahindra and Tata Motors dropped 4% and 3%, respectively.
The domestic automobile retail sales stood at 3,43,000 units during the month under review, up 7.3% vis-a-vis 3,19,800 units in the same period last year.
The electric two-wheeler manufacturer's operating revenue surged from ₹0.86 crore in FY21, to ₹373.42 crore in FY22.
The two-wheeler sales, however, declined by 7.2% during the month under review to 16,08,414 units as against 17,70,676 units sold in the same period last year
Amongst segments, the auto components sales in the passenger vehicle segment stood the highest at 44%, followed by the two-wheeler segment at 18%.
The company also plans to add six electric vehicles to its portfolio by FY31. The sale of its model will begin in FY25.
The company is betting heavily on its SUV portfolio to expand its market share to 10% from the existing 7%