Maruti Suzuki lines up ₹5,000 crore capex for current fiscal

Maruti Suzuki India (MSI) has lined up ₹5,000 crore capex for various initiatives, including new product launches, for the current financial year, according to a senior company official.

The country's top carmaker, which had earmarked around ₹4,500 crore in FY22, also believes that parent Suzuki Motor Corp's investment in Gujarat would help in expanding its battery electric vehicles (BEV) range in the country.

The maker of Alto and Swift noted that it would manage the capex through internal accruals, he added.

Responding to a query on Suzuki's plans to invest in Gujarat for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries, Seth said: "This investment will greatly support in localising the EV manufacturing and help the company to accelerate and expand its BEV product portfolio in India."

The company is planning to introduce its first BEV by 2025.