Maruti Suzuki will produce 40 lakh vehicles annually by 2031
Maruti Suzuki, the country's largest automaker, has unveiled its new Maruti Suzuki 3.0 vision. The strategy includes electric cars, new technology, alternative engine options, and a new production plant in Haryana.
The automaker intends to build over 40 lakh vehicles per year by 2031, with EVs accounting for around 15 percent - six lakh units - and hybrids accounting for roughly 10 percent. This is a 75 percent increase in manufacturing capacity above the current capacity of 22.5 lakh units. In addition, Maruti Suzuki anticipates its export volumes to triple to 7.5 lakh units by FY31.
The Maruti eVX, which was unveiled at the Auto Expo this year, will make its market debut in FY2024-25. This will be followed by five further electric cars by fiscal year 2031. We expect the Fronx, Jimny, and Wagon R to be electrified in the years to come.
Apart from that, the carmaker already sells the bulk of its vehicles with mild hybrid technology. The Grand Vitara and Invicto are also available with powerful hybrid powertrains. Maruti also intends to expand and develop its alternative fuel offering in the next years.
Maruti Suzuki has played an important role in developing the Indian vehicle market over the course of four decades. From a modest beginning of about 20,000 vehicles per year to almost 2 million automobiles per year in FY 2022-23, the Company has pleased over 27 million consumers in India and over 100 countries across the world.
Explaining the genesis of Maruti Suzuki 3.0, R. C. Bhargava, Chairman, Maruti Suzuki India Limited, said, "Our first phase was when we were a public enterprise. The second phase ended with the COVID-19 pandemic, and the Indian market became the third largest in the world… It took us 40 years to create a capacity of 2 million units and Suzuki Motor Corporation helped in this process by establishing the Gujarat facility. Your Company now has to add the next 2 million in a period of 9 years."
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