Maruti Suzuki India Limited has unveiled its consolidated FY 2022-23 report under the ‘Maruti Suzuki 3.0’ strategy. This initiative aims to introduce new models, enhance technology, reduce carbon emissions, and expand production capabilities. From producing 20,000 cars annually to targeting almost 2 million vehicles in the upcoming fiscal year, Maruti Suzuki’s remarkable journey has served over 27 million customers across 100+ countries.
Evolving Phases and Vision
Chairman R.C. Bhargava highlighted Maruti Suzuki’s three phases. The initial phase marked its public enterprise inception. The second phase concluded with the pandemic’s emergence and India becoming the third-largest global car market. Bhargava acknowledged that achieving a two million-unit capacity took four decades, significantly aided by establishing the Gujarat facility. The company aims to complete an additional 2 million units within nine years.
Maruti Suzuki, the nation’s largest car manufacturer, witnessed its exports surge to 2.59 lakh units last year, with expectations of further acceleration. The projection sets the export target between 7.50 to 8 lakh units by FY 2030-31. The ‘Maruti Suzuki 3.0’ project encompasses new model launches, carbon emission reduction, and augmented production capacity.
Focusing on Electrification
The company’s vision encompasses producing over 1.5 million electric vehicles by FY 2030-31. With the completion of the ‘Maruti Suzuki 3.0’ strategy, the domestic range will expand to accommodate 28 cars. The ambitious project aims to ramp up production to over 4 million vehicles annually, with around 15-20% being Battery Electric Vehicles (BEVs) and 1 million units comprising hybrid cars.
Maruti Suzuki envisions introducing six electric vehicles by FY 2030-31. Of the planned 4 million units, 3.2 million units will cater to the domestic market. With a focused approach to electric and hybrid models, the brand contributes significantly to eco-friendly mobility.
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Based on the e-VAX Concept, the forthcoming all-electric vehicle has already been tested in Europe. Maruti Suzuki’s plan includes launching multiple electric SUVs based on a dedicated EV architecture in various markets. Alongside vigorous hybrids and Compressed Natural Gas (CNG) options, the brand explores alternative fuel avenues like ethanol and compressed biogas.
Conclusion: Maruti Suzuki’s ‘3.0’ strategy signifies its commitment to sustainability, technological advancement, and global expansion. The vision to introduce a range of electric vehicles and bolster production capacity aligns with the growing demand for sustainable transportation solutions worldwide. Maruti Suzuki remains a trailblazer in the Indian automobile landscape, poised to drive a greener and more sustainable future.