NEW DELHI: Maruti’s Japanese parent Suzuki appears to be recalibrating its electric vehicles strategy in India with plans to launch four new electric cars by 2030, against an initial target of having six vehicles. The company, however, is retaining its target of having 15% contribution from electrics as it estimates a production of four million units by then.
In a mid-term management plan announced by Suzuki in Japan, the company, a late entrant to the EV space, said it remains bullish on sustainable technologies in India, highlighting opportunities in hybrids and CNG, as it eyes to reclaim the coveted 50% market share it once enjoyed (against 41.5% now).
The company, for which India is the backbone of its global operations, said it is aiming to sell electric cars within India as well as export.
Despite reducing the number of models in EVs, Suzuki said it aims to be “Number 1 in production, exports and sales” of green cars in India. It drives in its first electric in eVitara over the coming months.
Suzuki called India the “most important market” for the company, that will continue to “grow and serve as the engine” for its future growth. It added that the competitive environment in the country “is becoming increasingly severe”, and thus the quality of product functions, equipment and services that customers demand needs to go up.
The Japanese car company also said it wants to strengthen its product capabilities and line-up in the SUV and MPV segments in India. The company – once seen as the maker of peoples’ cars with models such as Maruti 800 – is yet not ready to write off entry-level cars. It wants to “rapidly develop and introduce entry segment products that meet the preferences of entry-model customers.”
On sustainable mobility, the company said it wants to introduce battery electric vehicles, hybrids, CNG, compressed biogas powertrains, and those compatible with flex fuel (ethanol blended).