Maruti Suzuki India has announced that majority of its alternative shareholders have voted in favour of the manufacturing contract agreement for production. The sale of vehicles from the new plant of Gujarat will start in January 2017.
The manufacturing plant of Gujarat will see total investment of around Rs. 18,500 crore with Maruti Suzuki bringing in fairness of around Rs. 8,000-Rs 10,000 crore.
Maruti Suzuki is currently leading 53 per cent of share of the passenger car market, running out of capacity of production and the upcoming project of Gujarat plant will provide new momentum to the company.