Maruti Suzuki, the Indo-Japanese automaker, has unveiled its ambitious new vision – Maruti Suzuki 3.0 – with a strong focus on electric mobility and sustainable solutions. As part of this strategy, the company aims to produce more than 1.5 million electric vehicles by the fiscal year 2031. In addition to this, Maruti Suzuki plans to expand its product portfolio with 10 new models, including 6 electric vehicles (EVs). Currently offering 19 models, the company aims to increase this number to 29 models by 2030-31.
Maruti Suzuki 3.0 – Big Production Plans
Furthermore, Maruti Suzuki has set its sights on extending overall production figures. The automaker plans to ramp up its annual production to a staggering 4 million vehicles by 2031. Out of this production, 15% (equivalent to 600,000 units) will be EVs, and an additional 1 million units will be hybrid vehicles. The company’s existing production capacity of 2.25 million units is targeted to be increased by 75%. Maruti Suzuki also foresees a threefold increase in its export volumes, reaching 750,000 units by the fiscal year 2031.
Of the projected 4 million units, 3.2 million units are intended for the domestic market. The company envisions that around 40% of this output will comprise hybrid and electric vehicles, accounting for over 1.2 million units catering to the domestic market. To achieve the ambitious goal of producing 4 million units per year, Chairman R C Bhargava hinted at potential reorganization of the company, taking into consideration the interests of shareholders and stakeholders. Specific plans will be announced in due course.
Maruti Suzuki 3.0 – EV Plans
Bhargava also revealed that the development of EVs is well on track at the Gujarat facility, and Maruti Suzuki anticipates launching its first EV in 2024-25. Looking ahead to the future of EVs, Bhargava disclosed the company’s vision of having six EV models by 2030-31, which are expected to contribute 15-20% of the total sales by that time.