Maruti Suzuki's board has approved a Rs 4,960 crore investment to acquire land in Gujarat for expanding production capacity by up to 1 million vehicles annually. The move addresses the full utilization of its current 2.4-2.6 million unit capacity across existing plants. The land will be acquired from Gujarat Industrial Development Corporation at Khoraj Industrial Estate. Funding will come from internal accruals and external borrowings, with final timelines and total capital expenditure for the expansion to be determined in later phases.