Maruti seems to have come off age after more than two decades it was formed as a joint venture between Japan`s Suzuki Motor and the Indian government, it is set to develop an all-new model from scratch by 2011 using its Indian engineering strength, reports Economic Times.
The company has been strengthening its engineering and design competencies as it plans to nearly double its engineering workforce by 2010 from 560, they would like to close March next year with 740 engineers and reach 1000 by 2010.
The company said that going forward; they would be working on a model that is conceived, developed and designed at Maruti by its own engineering team.
Maruti has been emerging as an important arm for Suzuki`s global operations. Last fiscal marked a turning point when it overtook Suzuki in terms of sales in respective home markets when it sold 0.711 million units to Suzuki`s 0.673 million units in Japan. Suzuki has said that of the 3 million cars that it wants to sell worldwide, almost 30% would come from Maruti.
Shares of the company gained Rs 4.1, or 0.73%, to trade at Rs 564. The total volume of shares traded was 7,657 at the BSE (10.13 a.m., Friday).
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