Maruti Suzuki lifts five-year capex plan to ₹77,500 crore through FY31

Maruti Suzuki India plans ₹77,500 crore of capex from FY27 to FY31 across capacity, new models, R&D, logistics and sales infrastructure. It has also earmarked ₹14,000 crore for FY27 and will expand solar and biomass power at Manesar, Kharkhoda and Sanand.

— Source publishedMon, 31 Aug, 2026, 13:27 IST·First seen Mon, 31 Aug, 2026, 13:39 IST·Source Business Standard · Companies

What happened

Maruti Suzuki India · Maruti Suzuki raised its five-year India capex plan to ₹77,500 crore through FY31 for capacity, new models, R&D, logistics and sales

Key facts

  • ₹77,500 crore planned capex for FY26-27 to FY30-31
  • ₹14,000 crore capex planned for FY26-27, up from around ₹10,000 crore last year
  • ₹70,000 crore India investment previously indicated by Suzuki Motor Corporation
  • In-house solar capacity to rise from 79.1 MW in FY25-26 to 211.3 MW by FY30-31
  • Solar capacity expected to cover nearly 35% of electricity requirements

Why this matters

Maruti Suzuki’s expansion raises the strategic bar for suppliers, technology partners and rivals, creating opportunities around localization, EV-related capabilities, logistics and clean-energy infrastructure.

What to watch

  • FY27 capex deployment versus the ₹14,000 crore target and management guidance on total annual capacity.
  • New model pipeline, especially electric vehicles and premium SUVs, plus booking momentum after launch.
  • Plant utilization, wholesale-retail inventory levels and dealer discounting across the passenger-vehicle industry.
  • Localization announcements for EV components, batteries and electronics.
  • Market-share movement versus Hyundai, Tata Motors, Mahindra and Kia in SUVs and EVs.
  • Execution milestones at Kharkhoda and Sanand, including supplier-park development.
  • Solar and biomass capacity additions and resulting energy-cost or emissions reductions.
  • Interest-rate, fuel-price and rural-income trends affecting entry-level car demand.
  • Announce plant-wise capacity additions and commissioning timelines for Kharkhoda, Manesar and Sanand.
  • Accelerate launches in SUVs, hybrids, CNG and battery-electric vehicles to fill incremental capacity.
  • Expand dealer footprint, service bays, regional stockyards and rail/logistics links in underpenetrated cities.
  • Increase local sourcing commitments for batteries, electronics, steel, castings and semiconductor-linked components.
  • Use solar and biomass projects to reduce plant energy costs and lower reported emissions per vehicle.
  • Seek additional supplier investments around Haryana and Gujarat manufacturing clusters.

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