Maruti Suzuki, the country's largest automaker, plans to invest approximately Rs 45,000 crore to increase production capacity to four million units per year by the end of the decade.

Maruti Suzuki chairman RC Bhargava stated at the company's annual general meeting on Aug 29 that the company will use its cash reserves to double production capacity by 2031.

According to Bhargava, the company will also consider shareholder recommendations for a stock split.

He told shareholders that the company has "two million production and sales in 40 years and is now planning to add two million in the next eight years." In the third phase of its journey, the company plans to double its production capacity, sales, and turnover over the next eight years.

To that end, Maruti Suzuki is considering purchasing parent company Suzuki Motor Corporation's Gujarat manufacturing facility, which produces 800,000-900,000 vehicles per year. It stated that acquiring Suzuki Motor Gujarat and operating it under a single management will increase efficiency in production processes as it expands its footprint.