Suzuki Rethinks Its Electric Vehicle Plans for India; Aiming for 4 Battery Electric Vehicles by 2030.

As the EV competition in India is increasing, and many auto players are updating their EV lineup in India to match the increasing demand of EVs. By analyzing the competition, due to this Suzuki Motor Corp is facing a major decline in market share, therefore they are rethinking their India strategy and are changing their EV plans for India. 

Suzuki’s have formulated a “Mid-Term Management Plan” for FY 30, which is now revised, as they will be launching four battery electric cars (BEV) models instead of six BEVs which were planned to launch in the previous growth strategy earlier implemented in 2023. 

Suzuki is following the same in European markets also. The company was aiming to launch five BEVs models in Europe, but now will launch only four models.

Suzuki’s Declining Market Share

Suzuki is experiencing a significant decline in the market share for overall sales volumes in India as they have slashed their estimated volumes by 2030 by around 15%, while they have the same goals share of EVs in the total sales by 15%. This states a decline of 15% in its total EV sales target for Financial year 30.

Suzuki has also reduced its long-term volume expectations for India to 2.54 million units by FY30 from the previous numbers set at 3 million. However the share of EVs is now 15% of the total sales. The approximation to the estimated sales is now rated at 3,81,000 electric cars in FY31, down from the earlier projection of 4,50,000 cars sold. 

However, Maruti Suzuki’s first electric car in India will be launched in a few months, and Suzuki says that they are aiming to become the largest electric car manufacturer in India. 

Globally also, many car manufacturers are scaling down their electrification targets, as there is a significant reduction in the demand of EVs in a few months, which is due to high prices and poor charging infrastructure, and increased competition from chinese rivals like BYD who are offering cheap EVs at competitive prices.

It is expected that India will be witnessing huge demand in EVs and significantly all major auto players are entering the EV industry has just brought a boom in the EV sales in the country, as many people are adopting EVs as their mainstream source of transportation.  

Following the strategy of competitors, Suzuki’s strategy in India will be focussing more on providing multiple powertrain options. Thus their lineup will include models across all fuel types like battery electric, Hybrids, CNG, and flex fuel, which will be made for each person’s specific needs.

Suzuki’s powertrain in future will include CNG models, including compressed biogas, which will be making a share of 35% from the total sales, as per the management plan. This clearly depicts that Suzuki wants to position CNG in the budget cars segment. 

Traditional combustion engines like petrol and hybrid vehicles will be contributing 25% to the powertrains, as Maruti Suzuki is now transitioning to position themselves as the hub of EVs in India.