On March 21, Sharda Motor Industries announced that it has set up plant - II at Chakan, and a factory license for the same is issued by the Directorate of Industrial Safety and the health department of the Government of Maharashtra on March 20, 2023. The plant is self-financing the plant with an investment of INR 110 million and have a production capacity of 525 thousand per year.
Sharda Motor is a manufacturer of exhaust systems, catalytic converters, independent suspensions, seat frames, seat covers (two-wheelers and four-wheelers), soft top canopies, and pressed part-white goods products.
Based on Sharda Motor Industries' stock exchange notification