Maruti Suzuki India Ltd.

Maruti Suzuki has received its shareholders approval for entering into a contract manufacturing agreement with Suzuki Motor Gujarat for the production and sale of vehicles. The company’s shareholders have also approved a lease deed for leasing land for purposes of implementing the contract manufacturing agreement.

Currently, the company has two facilities, one each in Gurgaon and in Manesar, which together manufacture 15.5 lakh cars. The third proposed plant in Gujarat will be capable of making 15 lakh cars annually. This will be set up by Japanese parent Suzuki. The plant will then sell the cars at cost price to Maruti (the Indian subsidiary) and the cars will be sold as part of the Maruti product portfolio.