Suzuki bets big on India, aims to make it global export hub of EVs by 2030
Suzuki has aimed for 50 percent market share as the market leader in the Indian automobile industry.
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Global automaker Suzuki Motor Corporation's subsidiary Maruti Suzuki has aimed to make India its No.1 hub for the electric vehicles (EVs) production and export by fiscal year 2030. Suzuki on Tuesday announced its new "Mid-Term Management Plan (FY2025-FY2030)" under which the company has aimed for 4 million units of annual manufacturing capacity to meet demand in India and expand as a global export hub. The company has planned to supply products from India to Middle East and African markets.
The company has also set its automobile sales volume target for FY 2030 to 250,000 units in the Indian market. Acknowledging the change in the business environment due to declining market share in India and intensified competition in electric vehicles, Suzuki has aimed for 50 percent market share as the market leader in the Indian automobile industry.
The company has outlined a plan to increase the share of passenger cars by 50 percent or above in India. Additionally, the company has envisaged expansion of its EV lineup starting with e VITARA, aiming to launch 4 models by FY2030. Suzuki Motor said it will also rapidly develop and introduce entry-segment products that meet the preferences of entry-model Indian customers.
MSI will also work on improving the Research & Development to expand the business domain in India.
