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Maruti Suzuki sets target for EV sales in India

Written by Kanad Kalasur

India’s largest carmaker Maruti Suzuki has set an ambitious target when it comes to electric vehicles. The company has revealed that it plans to manufacture 15 lakh EVs by FY2030-2031. Further, Maruti will have 28 models on sale amongst which atleast six will be electrified. All this is part of Maruti’s new vision called as Maruti Suzuki 3.0.

Maruti Suzuki 3.0 : More Details

Maruti is also aiming to have production capacity of over 40 lakh units by 2031. This will include 6 lakh EVs, or about 15 percent of total production. Further, hybrids will account for 10 lakh units. Today, the company has an installed production capacity of 33.5 lakh units. Hence, there is a need for over 75 percent jump. In terms of export numbers as well, Maruti expects to triple the volume to 7.5 lakh units annually by FY2031.

Amongst the 40 lakh production capacity, 32 lakh will be reserved for domestic consumption while the rest will be for exports.

Out of the 40 lakh units production plan, 32 lakh units will be the output for the domestic market and Maruti Suzuki hopes about 40 percent of this output would be hybrids and EVs for the domestic market – over 12 lakh units.

Way to 40 lakh units per annum

Today, with over 20 lakh units per annum production, Maruti has taken over 40 years to this point from inception. Now with the target set at over 40 lakh units, the company is working towards it and will be releasing its detailing plan in the near future.
Apart from manufacturing these many units, one more challenge is to sell them. With EV development going on in full speed, the Gujarat plant is expected to start with the first EV by FY2024-2025.

Six EVs by 2031

It was also highlighted that EVs will consists of battery electric vehicles or BEV, hybrids and alternative fuel vehicles. Maruti also said that Indian challenges are unique and carbon neutrality can be achieved here using different electric vehicles, not just pure EVs.

Also Read – Maruti Suzuki Alto sales cross 45 lakh milestone in over 2 decades. 

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