Maruti to invest Rs 3,500 crores for new series engines

Mumbai, May 8 (UNI) Maruti Udyog Ltd (MUL) is planning to invest around Rs 3,500 crores in the next few years to develop new series of car engines in its second plan at Manesar, Haryana.

Disclosing this to UNI on the sidelines of launch of company's new Sedan SX4 here last evening, company MD and CEO Jagdish Khattar said, ''The parent company Suzuki will collaborate in this development. The new engines will be fitted in all the new cars launched by the company in India and abroad as well.'' When asked about Maruti's sales, Mr Khattar said the higher interest rates have had an impact on the overall sales figures and they have come down by 10 percent.

Elaborating on the margins, he said, the company is least bothered about it and is more interested on the quality product, he added.

UNI