Maruti Suzuki to launch 4 EVs by FY2030, eyes market leadership in EVs

Akash Patil

24 Feb 2025, 04:16 PM

2.2K

Suzuki Motor Corp has revealed its revised mid-term management plan (FY2025-FY2030), an ambitious mid-term management plan that aims to solidify its dominance in the Indian market.

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The Japanese automaker will launch four new EVs in India by FY2031. The introduction of four BEVs by FY2030 is a significant step for Maruti Suzuki and for the Indian automotive industry as a whole.

Maruti plans to regain the 50% market share in India by FY2030. New product launches will play a key role in the company’s bid to reclaim its lost market share, which includes four new EVs by FY2030. The Indian arm of the Japanese automaker is now looking to introduce more SUV and MPV models in India along with new entry-level products.

In a strategy briefing in Tokyo, Toshihiro Suzuki, SMC said, “India is Suzuki’s most important market where we are putting the most effort. The sales situation of BEVs is not favourable, particularly in Europe. This shows that new technologies cannot grow without customer acceptance”.

Maruti Suzuki recently unveiled its first battery electric vehicle in India and plans to start deliveries in a few months, has said that it is aiming to be the largest electric car maker in India in the first year itself. It signals a strong commitment to electric mobility and is expected to accelerate the adoption of EVs in India.

The Japanese automaker will introduce an entry-level electric hatchback, a new electric MPV and an all-new electric sub-4 meter SUV. The company is reportedly to introduce an all-new e MPV in the country in 2026. This segment remains largely untapped and presents a promising opportunity for volume sales. As Maruti Suzuki expands its EV offerings, it aims to capture diverse market segments.

“First, we will export this vehicle (BEVs) to Europe, then Japan. We would like to leverage India’s scale and export to the world…These BEVs represent global models and India will be the production hub for these vehicles,” Suzuki Motor President Toshihiro Suzuki said recently.

India is already one of Suzuki’s largest production bases for internal combustion engine-based cars, and a key node for exporting to markets such as the Middle East and Africa.

Recognizing India as a key global manufacturing base, Suzuki aims to leverage its production scale to export vehicles to emerging markets in Africa and the Middle East, where demand for affordable mobility solutions is rising.

A new plant in Haryana’s Kharkhoda and an assembly line in Suzuki Motor Gujarat will come onstream by 2030 for a total installed capacity of four million units.

Suzuki Motor plans to invest about Rs 7,000 crore as capital expenditure towards production, new models, carbon neutrality and quality measures.

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