Maruti Electric Vehicle
The Maruti Suzuki eVX production version will be their first electric vehicle

Maruti Suzuki plans a wide electric vehicle portfolio by 2031

Maruti Suzuki has planned a huge electric vehicle lineup, first EV to be launched in 2024-25. The carmaker has announced a new vision known as Maruti Suzuki 3.0. This ambitious plan outlines the company’s goal to manufacture more than 1.5 million electrified vehicles by the end of the financial year 2031.

As part of this strategy, Maruti intends to have a diverse lineup of 28 vehicles, including six electric cars, by the conclusion of this plan. The company is also aiming to significantly ramp up its production, targeting 4 million vehicles annually by 2031. Out of this around 15 percent will be electric vehicles and another 10 lakh units will be hybrids.

This represents a substantial 75 percent increase in production capacity compared to the current 2.25 million units. The company is also looking to triple its export volume to 7.5 lakh units by FY31.

Chairman R C Bhargava, while discussing Maruti 3.0, reflected on the company’s past phases, from its public enterprise beginnings to its recent challenges due to the COVID-19 pandemic. The company recognises the challenges ahead as it strives to meet these ambitious production goals.

The chairman emphasised that the challenge is not only to manufacture 4 million cars each year but also to successfully sell them. They plan to introduce six different electric vehicle models by 2031. These EVs are projected to make up 15-20 percent of the company’s total sales by 2030-31.

Recognising the unique circumstances in India, the company is focused on achieving carbon neutrality in transportation through a mix of technologies tailored to the nation’s resources and economic conditions.

The Chairman also emphasised the importance of using resources efficiently, including the substantial amount of agricultural and animal waste in the country. He stressed the potential of technologies like hybrid systems, ethanol, compressed bio-gas and CNG to swiftly reduce the company’s carbon footprint.

Recently the Maruti eVX test mules have been spotted in Europe. It will be their first electric car which will compete with the upcoming all-electric Hyundai Creta.