Suzuki reaffirms India as growth hub, eyes top spot in EVs and 50% market share

During the recent unveiling of Suzuki’s first battery electric vehicle, the e-Vitara, Toshihiro Suzuki, Representative Director and President of Suzuki Motor Corporation, emphasized India’s strategic significance. In the new mid term plan, he highlighted that India is not only Suzuki’s largest market but also a key driver of its global expansion, stating, “India is our most important market, where we are putting the most effort.”

Under its new mid-term strategy, Suzuki aims to achieve 4.2 million global vehicle sales within five years—a nearly 33 per cent increase, with India playing the biggest role in this growth. The company is also committed to raising its Indian passenger vehicle market share to 50 per cent, up from 41.6 per cent in FY2022-23.

Also Read : Suzuki reinforces India’s role in FY30 growth strategy as it unveils e Vitara

To support these ambitions, Suzuki plans to expand its supply chain and production capacity. The upcoming Kharkhoda and Gujarat plants will play a crucial role in achieving these goals. The mid-term plan also states that Suzuki will monitor market conditions and gradually scale up production capacity to four million units per year at an appropriate time.

Expanding product portfolio with strong focus on sustainability

While focusing on its growth strategy, Suzuki Motor Corporation also aims to achieve carbon neutrality by 2050 in Japan and Europe and by 2070 in India, aligning with government targets. While the company initially planned to introduce six EVs by 2030, its latest mid-term plan has revised this number to four.

Nonetheless, India will remain the leading export market for the vehicle maker’s automobile business. In fact, it aims for India to be the ‘Number 1’ in production, exports and sales of BEVs. Meanwhile, Suzuki will also continue to build its lineup of SUVs and MPVs in the country. In the mid term plan, the company stated that the competitive environment is becoming increasingly severe in India, and the quality of product functions, equipment and services required by customers is increasing.

Also Read : Suzuki top boss reveals e Vitara core strategy, plans for complete India dominance

In view of this, Maruti Suzuki will expand its medium and large SUV/MPV lineup in preparation for the upgrade of customer preference with a strong focus on battery electric vehicle (BEVs) and series hybrid electric vehicles (S-HEVs). Meanwhile, for the mid SUV segment, the company eyes on enhancing its BEVs and S-HEVs along with mild hybrid electric vehicles (M-HEVs), CNG and CBG (Compressed Bio Gas), and flexible fuel vehicle (FFV), which means flex fuel vehicles.

Interestingly, even with the downturn in entry level vehicle sales, the company remains committed to introduce new models in the segment. In the mid term plan, the company stated that it aims to rapidly develop and introduce entry segment products that meet the preferences of entry-model customers in India. These models will feature various powertrain technologies including M-HEVs, CNG, CBG and FFV.

Meanwhile, on the dealership network front, Suzuki Motor Corporation aims to progressively define the roles of our two sales channels. In the mid term plan, the company explained that Nexa channels will be more Premium Oriented while Arena channel will represent a wider customer base, providing a comfortable customer experience.

Strengthening two wheeler network

While India remains Suzuki’s largest market for passenger vehicles, the company sees the two-wheeler segment as a growing market with significant potential. Recognizing this opportunity, Suzuki announced in its mid-term plan that it will expand its sales and service network across the country.

Also watch: Suzuki e-Access electric scooter makes global debut at Auto Expo 2025 | Range, battery explained

Additionally, Suzuki Motor Corporation aims to strengthen its development and production capacity in India to support future growth. Notably, the company will focus on battery electric vehicles (BEVs), flex-fuel vehicles (FFVs), CNG, and compressed biogas (CBG) as key powertrain technologies for the Indian two-wheeler market.

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First Published Date: 20 Feb 2025, 14:08 PM IST