Maruti Suzuki's board has approved a Rs 4,960 crore investment to acquire land in Gujarat's Khoraj Industrial Estate for a new manufacturing plant. This expansion aims to add up to 1 million units to its annual production capacity, which is currently fully utilized. The move is part of a larger strategy to reach a total capacity of four million units by 2031. The company will use a mix of internal accruals and external borrowings to finance the project, with specific timelines and model details to be finalized later.