The production version of the eVX concept shown at Auto Expo 2023 will be the first Maruti EV to go on sale in 2025.
Suzuki Motor Corporation, the parent company of Maruti Suzuki, India’s largest carmaker, has announced its global strategy plan. Suzuki Motors plans to have a portfolio of half a dozen models in India by FY30 to participate in the growing electrification space. We reveal what Maruti’s future EV lineup could look like by 2030.
It is important to note that while Suzuki has stated FY24 in the document, this refers to FY24 in Japan, which translates to FY25 in the Indian market.
- The first Maruti EV will be available in India by 2025.
- By 2030, five more full-EV models will be available.
- More Toyota-Suzuki models are on the way.
The first Maruti EV will go on sale in 2025
According to the document, the first fully-electric Maruti will hit Indian roads by 2025. This new EV will be the production version of the eVX concept, which debuted earlier this month at the Auto Expo 2023. Apart from the eVX, Maruti’s core strength will remain smaller and mass-market EVs, in contrast to Mahindra and Tata Motors, which are focusing on a majority of larger vehicles for their future EV portfolio.
Suzuki stated in the document that internal combustion engines will account for 60% of the domestic market by the end of the decade. By 2030, the company expects hybrid electric vehicles to account for 25% of total sales, nearly 10% more than zero-emission battery electric vehicles. This was revealed in a presentation made by the company and made public today on the stock exchanges.
“In India, we will launch the SUV battery EV announced at the Auto Expo 2023 in FY24, with six models to follow by FY30,” Suzuki Motor Corporation said. “In addition to battery EVs, Suzuki will offer carbon-neutral internal combustion engine vehicles that run on CNG, biogas, and ethanol mixed fuels.”
Suzuki anticipates that India and Africa will be among the fastest growing regions. The Indian economy is expected to grow from USD 1.6 trillion (Rs 130 lakh crore) today to USD 13.5 trillion (Rs 1,113 lakh crore) by 2050.
Suzuki’s India biogas plan
Suzuki has committed to investing 4.5 trillion yen, or Rs 2.82 lakh crore, until the end of the decade, with the goal of doubling its turnover to Rs 4.39 lakh crore and contributing to a carbon-neutral future. Two trillion yen of the planned investment will go toward “research and development expenses in areas including carbon neutrality such as electrification and biogas,” according to the brand. The remaining 2.5 trillion yen is set aside for facility capital expenditures, including 500 billion yen for a BEV battery plant.
“We will challenge to strike a balance between increasing sales units and reducing total CO2 emission amount. Suzuki Motor’s one-of-a-kind initiative to address this challenge is the biogas business, which will produce and supply biogas derived from cow dung and dairy wastes found primarily in rural India.
This biogas can be used in Suzuki’s CNG models, which account for roughly 70% of the CNG car market in India. Suzuki signed an agreement to conduct biogas verification with the Indian government’s National Dairy Development Board and Banas Dairy, Asia’s largest dairy manufacturer.
“We believe that the biogas business in India not only contributes to carbon neutrality, but also promotes economic growth and contributes to the society of India. “We also intend to expand the business to other farming areas in regions such as Africa, ASEAN, and Japan in the future,” the company stated.
Strategy for 2030
Suzuki Motor Corporation’s motto, according to the mid-term strategic plan titled Growth Strategy for FY30, is to deliver “value-packed products” while focusing on the customer. “With our main business regions, Japan, India, and Europe, as the core, Suzuki will contribute to the realisation of a carbon neutral society and the economic growth of emerging countries such as India, ASEAN, and Africa,” the statement continued.
Suzuki claims that it aims to achieve carbon neutrality in Japan, Europe, and India by 2050, based on the target dates set by each government.
Suzuki’s collaboration with Toyota Motor Corp.
The company stated that it will deepen its cooperation with Toyota Motor Corporation while remaining a competitor, aiming for sustainable growth and overcoming various issues related to the automobile industry. As part of this joint venture, Suzuki currently supplies multiple models to Toyota in India and abroad, including hatchbacks, MPVs, and SUVs.
Suzuki’s EV strategy for Japan
In Japan, commercial mini-vehicle battery EVs will be introduced in FY23, followed by compact SUVs and passenger mini vehicles, with six models to be introduced by FY30. Suzuki will also create new hybrids for mini and compact vehicles.
In addition, the company will launch eight new electric two-wheelers to meet a variety of transportation needs. “We will introduce a battery EV in FY24. “By FY30, we intend to launch eight models with a battery EV ratio of 25%,” Suzuki Motor added. It has set a goal of achieving carbon neutrality for domestic plants by FY35.
While the Japanese automaker claims that the Indian market will continue to grow until FY30, it admits that an increase in total CO2 emissions is unavoidable, regardless of product CO2 emissions reductions.