Suzuki: Production capacity in India to exceed 4m units by 2030
Introducing the “eVX”, a global strategic vehicle, in India, Japan, and Europe starting in 2025
2024/03/13
- Summary
- Suzuki: Announces plans to achieve sales of JPY 4.8 trillion in FY2025 and JPY 7 trillion in FY2030
- Electrification plan until 2030 in Japan, Europe, and India; JPY 2 trillion invested in electrification
- Initiatives toward carbon neutrality in 2070/Multi-pathway
- Expanding partnerships with startup companies: Lithium-ion battery development, flying cars, etc.
- Business performance: Record-high sales and profits expected for the full year of FY2023
- GlobalData production forecast: Suzuki’s light vehicle production expected to increase to 3.33 million units in 2027
Summary
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| eVX to be introduced globally from 2025 (exhibited at Japan Mobility Show 2023) |
This report describes Suzuki Motor Corporation's future plans in India, its largest market, and the technological developments in each mobility field that the company is pursuing in collaboration with various startup companies.
India has become the world's third largest automobile market, surpassing Japan from 2022. Furthermore, Maruti Suzuki India Ltd. (Maruti Suzuki) expects the four-wheeler vehicle market as a whole to expand to 6 million units by 2030, and has set a sales target of 3 million units, or a 50% share of the Indian market.
In terms of production capacity, in addition to the 3 million units sold in India, the company aims to build up a production capacity of over 4 million units by 2030 to meet the demand of the export business, which is expected to expand to 1 million units.
Suzuki aims to achieve carbon neutrality in India by 2070, and will introduce six BEV models by FY2030. The eVX, Suzuki’s first global strategic EV vehicle, which was unveiled at Auto Expo 2023 in January 2023, will be introduced not only in India but also in Japan, Europe, and the rest of the world starting in 2025.
Suzuki’s overall approach to achieving carbon neutrality in India will be a "multi-pathway" approach, combining BEV and HEV electrification with compressed natural gas (CNG) vehicles, biofuel vehicles, and hydrogen mobility solutions. The target BEV ratio in India for FY2030 is set at 15% (20% in Japan and 80% in Europe), taking into account the installation of charging facilities and the energy situation.
Suzuki is co-developing lithium-ion batteries with ELIIY Power Co., Ltd. In addition, the company is participating in autonomous driving field testing in Hamamatsu, Japan, and is working on the development of flying cars, autonomous electric vehicle platform, and autonomous delivery robots.
Related reports:
Bharat Mobility Global Expo 2024 (1) EVs and Passenger Vehicles in India (Mar. 2024)
Investment in India: OEMs, Two-wheelers, and Suppliers (Feb. 2024)
Indian OEMs Investment and Future Plans (1) (Dec. 2023)
Indian passenger car sales rank third globally in 2022 (Sep. 2023)
Plans by Japanese OEMs to Introduce Electrified Vehicles (Aug. 2023)
Suzuki: Expanding Capacity in India to 2.6 M units, Production of BEVs from 2025 (Jan. 2023)
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