India will serve as the global hub for Suzuki Motor’s electric vehicle (EV) production, with plans to export these vehicles to markets like Japan, Europe, and others, despite a global slowdown in EV sales. Maruti Suzuki, a subsidiary of Suzuki, is India’s largest car seller and will soon launch its first EV, the e Vitara mid-sized SUV, which will be exported globally.
Suzuki Motor’s President, Toshihiro Suzuki, highlighted that India’s scale advantage is critical for the company, allowing it to produce high-quality vehicles for markets like Europe, Japan, and Africa. While the global EV market has slowed, Suzuki sees potential for growth in India, despite last year’s 20% growth in EV sales, down from 115% in 2023.
The Indian government has set an ambitious target of achieving 30% EV market share by 2030, and Suzuki is responding by expanding its infrastructure, including rolling out charging stations and focusing on small EVs once the technology and manufacturing processes are perfected. The company is also looking into other eco-friendly technologies, such as hybrids and hydrogen vehicles.
Suzuki has committed to investing over $4 billion in India to double its car production to 4 million units annually by 2031 and introduce new models to maintain its market leadership. Although Maruti’s market share has declined from over 50% in 2020 to around 40%, Suzuki aims to reclaim its dominant position. India, now the third-largest automotive market globally, remains a focal point for Suzuki’s growth strategy.
