Synopsis
Maruti Suzuki India, under Suzuki Motor Corporation, has unveiled a mid-term strategy aiming to bolster its market share and establish India as a global export hub while expanding its electric vehicle lineup.Key Takeaways
- India is the priority market for Maruti Suzuki.
- Plans to produce 4 million vehicles annually.
- Targeting a 50% market share in India.
- Aiming to launch four new EV models by FY30.
- Investment of 1,200 billion yen for expansion and quality.
New Delhi, Feb 20 (NationPress) The Suzuki Motor Corporation of Japan, the parent firm of Maruti Suzuki India, revealed a fresh mid-term strategy on Thursday, emphasizing a necessary 'rethink' due to changes in the business landscape from a decreasing market share in India and the rise of the electric vehicle sector.
The new mid-term roadmap for 2025-30 designates India as its crucial market. Maruti Suzuki intends to increase its manufacturing capability to produce 4 million vehicles annually, aiming to regain a 50% market share and establish the nation as a global export hub.
The automotive leader plans to broaden its EV portfolio, beginning with the e-Vitara, and targeting the launch of four new electric vehicle models by FY30, competing with rivals like Tata Motors and Mahindra & Mahindra, who have already built diverse EV offerings in India.
"In India, we will enhance localization alongside the growth of the electric vehicle market," stated the company.
Currently, Maruti Suzuki exports three lakh vehicles from India each year and aims to escalate that figure to 7.5-8 lakh units annually by the decade's end.
Despite achieving revenue and profit targets sooner than expected through improved sales mix and quality, the sales volume target fell short.
It acknowledged that the competitive landscape is intensifying, and the quality expectations for product functions, equipment, and services from customers are rising.
Maruti Suzuki targets to be India’s leading automaker in terms of production, local sales, and electric vehicle exports, with plans to introduce a total of six electric vehicles by FY30, including four passenger cars and two commercial vehicles.
Suzuki Motor plans to invest 1,200 billion yen (approximately Rs 7,000 crore) in capital expenditures focused on production, new models, carbon neutrality, and quality improvements. A new facility in Haryana's Kharkhoda and an assembly line in Suzuki Motor Gujarat will be operational by 2030, reaching a total production capacity of four million units.
