Suzuki is all set and has revealed its global business strategy comprising the entire range of authentic electric cars and the several different models of its co-brand Toyota-Suzuki.
The press release stated that Suzuki aims to introduce their first-ever Electric Vehicle in the Indian market in 2024. Maruti’s first all-included electric model follows the concept of eVX, which was showcased at the Auto Expo 2023 earlier this month.
The introduction of the eVX-based electric vehicle marks the start, while Maruti Suzuki plans to have an entire line-up of six different EVs across India by 2030. Unlike their competitors, Maruti is most likely aiming to introduce its plan across the mass market.
The future line-up of Suzuki features an entire blend of powertrains that ranges from the traditional ICE to pure-electric and hybrid vehicles. The maker of these vehicles expects the ICE models to account for almost 60% of the entire domestic market by the decade’s end. These include vehicles operating on biogas, CNG, and ethanol-mixed fuels. The hybrids will have a greater scope of market share of about 25%, while the Battery EVs will have 15%.
Suzuki Motor Japan made a recent statement that denotes that in India, they will unveil even the sports Utility vehicles or SUV battery EV with six other models to launch by 2030. The statement was made official at the grounds of the Auto Expo in 2023. Suzuki will also include carbon-neutral internal combustion engine vehicles that use biogas, mixed ethanol fuels, and CNG, along with the battery models of electric vehicles. The range would include premium, small hatchback, multipurpose, and SUV vehicles.
Based on every government’s set date, Suzuki aims to achieve entire carbon neutrality across Europe and Japan by 2050 and in India by 2070. They will also invest around 4.5 trillion yen by 2030, of which 2 trillion will include electrification-based investments.
The rapidly-developing regions for this brand are India and Africa, while the carmaker targets to double its turnover in India by 2030. To achieve this plan, the company aims to invest around Rs. 2.82 lakh crore into batteries, electrification, and the construction of the entire battery manufacturing plants.
The Indian market for EVs is expected to develop an entire manifold by the year 2030, with around 50% of the passenger cars being sold accounting for the companies like Mahindra & Mahindra and Tata Motors announcing the launching of around 10 EV models by the year 2026 and five EVs by 2027.
