New Delhi sources have stated that automakers are expected to invest $8-10 billion (Rs 51,600-64,500 crore) in India to set up factories and expand production in the country. The investment will span over a period of three to four years. The report further said this decision will most probably increase the production of passenger vehicles in India by 1.3-1.5 million units a year and generate employment for 20,000-25,000 people.



The passenger vehicles industry currently has a production capacity of over 5.5 million. It was stated that Maruti will be investing Rs 1,900 crore for its second phase of expansion at an R&D centre in Rohtak, Haryana, which will be commissioned in early 2019. The company has a capital expenditure plan of Rs 4,500 crore for the current fiscal year.

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RC Bhargava, Maruti Suzuki India Chairman said "We have taken 35 years to reach annual sales mark of 1.5 million units. I do not think it will take as long to sell another 1.5 million vehicles, may be not even 10 years". Hyundai Motor India also has plans to invest $2 billion on products alone and is eyeing output of one-million units out of India by 2020-2021. The company may also utilize the Kia Motors factory to meet increased volume requirement in the near future.



Sources have earlier reported about Chinese automaker SAIC Motor Corporations India plans. The Indian subsidiary of SAIC Motor Corp is called MG Motor India and most likely the company will roll out its first vehicle from the country late next year or early 2019 and the automotive industry, including component manufacturing, is estimated to grow to Rs 16.16 - 18.18 lakh crore by 2026.


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