The proposed capacity addition is up to 1 million units. The board has approved an outlay of Rs 4,960 crore towards land acquisition, development, and preparatory activities for the project.

Meanwhile, Indian Oil Corporation of India (IOCL) and Maruti Suzuki India signed a memorandum of understanding (MoU) to enhance customer convenience. Under this agreement, Maruti Suzuki service facilities will be set up at select Indian Oil fuel stations across the country.

The collaboration leverages Indian Oil’s vast nationwide network to set up various Maruti Suzuki service facilities. This integration will allow customers to access scheduled periodic maintenance and minor repairs for their vehicles at the same locations where they refuel, creating a more efficient and seamless experience.

Maruti Suzuki India is engaged in the manufacture, purchase, and sale of motor vehicles, components, and spare parts (automobiles). The company reported a 7.9% increase in consolidated net profit to Rs 3,349 crore on a 12.8% jump in revenue from operations to Rs 40,138.70 crore in Q2 FY26 over Q2 FY25.

The counter fell 1.14% to Rs 16,312.45 on the BSE.