New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) will invest Rs 4,000 crore in the next fiscal on capital expenditure, including development of new products, the company's Managing Director Kenichi Ayukawa said on Monday.
The company is also targeting yet another year of double digit growth in the next financial year, similar to what it expects in the ongoing fiscal, he said.
"It will be Rs 4,000 crore," Ayukawa said when asked about the company's capex for 2018-19.
Elaborating on the company's planned investments during the next fiscal, he said: "It will be utilised for new product development, engineering, maintenance of plants and network development." The company is expected to launch four new products, including the upcoming new Swift, in the next 12-18 months. Commenting on the company's network expansion programme, he said the target is to reach 5,000 sales and service outlets by 2020.
"These will be under both the Arena and Nexa chains," Ayukawa added.
At present, the company has 2,098 traditional outlets which are in the process of being converted to its new retail channel Arena, 289 outlets of premium chain Nexa and 162 for its commercial vehicles.