Maruti Suzuki expands business scope with major overhaul of Memorandum of Association
Memorandum of Association
(MoA), signalling a broader push into emerging areas of mobility and sustainability. The company's Board of Directors approved multiple amendments to the Object Clause during its meeting held on Thursday.
The changes reflect Maruti Suzuki's intent to diversify its operations beyond traditional
automotive manufacturing
. The revised MoA expands the company's definition of core business to include not only conventional automobiles but also drones, unmanned aerial vehicles (UAVs), amphibious and alternative propulsion vehicles, and their associated technologies and components.
New and broader horizons
In a clear move towards becoming a comprehensive mobility solutions provider, the company has now included in its scope the operation of subscription-based models, shared mobility services, last-mile connectivity, and vehicle leasing. This expansion also includes permission to buy, sell, refurbish, certify and auction used vehicles through digital, physical, or hybrid platforms, strengthening its presence in the pre-owned vehicle ecosystem.
Maruti Suzuki is also preparing to deepen its involvement in the
electric mobility
space. It will now be allowed to set up electric vehicle charging stations, battery swapping infrastructure and engage in the production and trading of alternative fuels like Compressed Biogas and Hydrogen.
Aligning with sustainability initiatives
As part of its sustainability initiatives, the company has added new provisions enabling it to participate in carbon trading, monetisation of renewable energy certificates, and offer consultancy services in this space. Further, the MoA now permits Maruti Suzuki to engage in the recycling of end-of-life vehicles and industrial scrap, enabling a circular economy approach.
Additionally, the company can now offer a range of consulting and technical services, including R&D, certification, testing, warehousing, and IT services, to third parties and government agencies.
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