Maruti Suzuki to Reclaim 50% Market Share in EV Industry by 2030

“We will introduce affordable electric cars and aim to achieve 50% market share by 2030,” Suzuki Motor Corporation President Toshihiro Suzuki said at a media event. The company plans to export hybrid vehicles and small electric cars after improving the manufacturing process to take advantage of its strong base in India.

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The president of Suzuki Motor Corporation(SMC), Toshihiro Suzuki, recently spoke to the media about the company’s plans, including its vision for mobility and technological improvements before the upcoming Bharat Mobility Global Expo.

Maruti Suzuki will debut its first all-electric vehicle, the e-Vitara, at the Auto Expo 2025, marking an important event for the brand as it ventures into the Indian EV space.

The Bharat Mobility Auto Expo is scheduled to take place from January 17 to January 22, 2025, in New Delhi.

Maruti Suzuki’s Ambitious Target for India

Maruti Suzuki has set an ambitious target of regaining a 50% market share in the country’s cutthroat SUV industry. The brand is actively working on this target through strategic investments and innovative product offerings in recognition of its late arrival in the segment.

Maruti Suzuki intends to substantially increase its yearly production capacity to 40 lakh units to support this target.

“India will be a production hub for electric vehicles. For Suzuki, scale in India is our strength. We will fully leverage this advantage to supply vehicles to Europe, Japan, Middle East, Africa, Central and South America, and Asian countries,” Suzuki said

The company plans to double exports to 750,000-800,000 units by 2030. Suzuki said the India-made Frontex compact SUV has been very well received in Japan and orders for 15,000 units are pending.

Maruti Suzuki’s Goals for Sustainability

In addition to its ambitious target, Maruti Suzuki also emphasized its commitment to sustainability and lowering CO2 emissions.

Its commitment is reflected and demonstrated in its broad range of environmentally friendly technologies, such as electric vehicles, hydrogen fuel cells, compressed biogas (CBG), hybrid powertrains, and CNG, etc.

The brand hopes to meet strict international pollution requirements and contribute to a cleaner, greener future with these technological improvements.

Toyota’s Role

Additionally, The President of Suzuki also emphasized the importance of Toyota in their ambitious plan.

Even though Suzuki and Toyota are rivals in the global automobile market, they are collaborating on several technological advancements together. This helps Suzuki close its technological gaps while acknowledging Toyota’s technological superiority.

Both Suzuki and Toyota can maintain their competitiveness in the global market and solidify their positions in the domestic market thanks to this special collaboration.

Final Thoughts

In conclusion, Maruti Suzuki is gearing up to strengthen its presence in the Indian EV market with the launch of the e-Vitara. This launch marks a significant moment in the brand’s foray into the electric mobility segment.