Of the set target of 4 million units by the end of decade, 6 lakh units will be zero emission BEVs, over 1 million hybrid vehicles by the end of business plan.
05 Aug 2023 | 19688 Views | By Ketan Thakkar
Maruti Suzuki, the country's largest car maker, has announced its new vision called Maruti Suzuki 3.0, which envisages the company will produce over 1.5 million electrified vehicles by FY31. The maker of Baleno and Grand Vitara will have a portfolio of 28 vehicles by the end of this business plan.
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Maruti Suzuki, the country's largest car maker, has announced its new vision called Maruti Suzuki 3.0, which envisages the company will produce over 1.5 million electrified vehicles by FY31. The maker of Baleno and Grand Vitara will have a portfolio of 28 vehicles by the end of this business plan.
Out of the 4 million units production plan - 3.2 million units will be the output for the domestic market and Maruti Suzuki envisages about 40% of its output towards hybrids and EVs - which translates to about 1.2 million units for the local market.
The company also guided that its export volumes will jump three times to 7.5 lakh units by FY31.
R C Bhargava, Chairman of Maruti Suzuki in his address to shareholders stated that what is now being planned can be said to be the start of ‘Maruti 3.0’.
He explained that the first phase was when Maruti Suzuki was a public enterprise. The second phase of 2.0 ended with the Covid pandemic, and the Indian car market became the third largest in the world.
On the uphill task ahead, Bhargava, an industry captain who has been a lynchpin of Maruti Suzuki's progress for decades, stated that the challenge in front of the company is not only to produce 4 million cars a year but possibly higher volumes in the subsequent years and the company will also have to sell this number of cars.
"By FY 2030-31, our company could have about 28 different models. Clearly, the organisation and systems for selling such a large variety of cars will require changes from what exists at present," he added.
On the development of electric vehicles, he said it is proceeding well at the Gujarat facility, and the company expects to start the sale of the first model in 2024-25.
The head of Maruti Suzuki said the industry must use the enormous amount of animal waste that is generated in the country. Equally large is the opportunity created by our agricultural and other waste as well as the potential to increase the output from our land resources.
"The use of hybrid technology, ethanol, Compressed Bio-gas, and CNG in cars will all lead us faster to our goal of reducing the carbon footprint than relying only on any one technology," he added.