The new Maruti Suzuki Vision 3.0 has been unveiled by Maruti Suzuki, the largest automaker in India. By the fiscal year 2031, the company aims to produce 1.5 million electric vehicles. 28 vehicles are what Maruti hopes to have by the end of this business plan. There are six electric cars among these vehicles.
The automaker has another strategy to produce 40 lakh vehicles annually by 2031. 6 lakh, or 15%, of all vehicles are electric vehicles. In addition, about 10 lakh automobiles are hybrids. Currently, the company can produce 22.5 lakh vehicles annually. Maruti Suzuki’s production will rise by 75% if the goal is met. By 2031, the company wants to triple its exports to 75 lakh units.
32 lakh of the 40 lakh units in the production schedule are for domestic consumption. The company wants to sell 12 lakh units, or 40%, of hybrid and electric vehicles. Maruti Suzuki, according to Chairman RC Bhargava, is a first-stage public enterprise. The corona virus pandemic marked the end of the second phase. The third-largest automobile market in the world is now found in India.
According to Bhargava, it took Suzuki Motor Company 40 years to reach a 2 million unit capacity. The Gujarat plant used by the company helped it reach this milestone. He claimed that in order to reach 40 lakh production annually, the company would need to be reorganised. The business might soon inform shareholders of its proposal. Maruti Suzuki faces a significant challenge because it must not only produce 40 lakh cars but also sell them.
At the Gujarat plant, electric car production is still ongoing. By 2024 to 2025, the company plans to introduce its first electric vehicle. The company plans to release six electric vehicles by 2031. At that time, it represents between 15 and 20 percent of all sales.