Maruti Suzuki, India's largest carmaker, plans to boost output by up to 75% to between 1.5 and 1.75m units a year by 2015 as it seeks to maintain its lead position in the fast-growing domestic market.

Managing director Shinzo Nakanishi told the Economic Times of India that this level of production should allow the company to retain its 50% share in a market expected to reach 3m vehicles a year by then.

He said the board of Japan's Suzuki Motor, which holds a majority stake in Maruti, would give final approval in January on whether to implement the plan.

Analysts told the newspaper that such an increase in production would require an investment of up to US$1bn. Maruti Suzuki currently can produce 1m cars a year.

Nakanishi said extra capacity would be added in stages. The company owns 242 hectares (600 acres) of land in Manesar in the northern Indian state of Haryana, of which two-thirds remains unused.

He added: "We can [build] two plants producing an additional 600,000 cars in Manesar."

Maruti Suzuki recently reported a quarterly net profit for the three months to September up a massive 93% year-on-year to INR5.7bn (USD123bn) and, earlier this week, reported a November year on year sales rise of 67% .

South Korea's Hyundai Motor is Maruti's nearest rival in the Indian market with a 21% market share, however other carmakers are increasing their share, including Honda and General Motors, while local rival Tata Motors recently launched Nano low cost car is priced from just $2,500.

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