Maruti Suzuki plans to launch 10 new models including 6 electric cars by 2030
Maruti Suzuki expects the demand for exports to continue to grow and export volumes are projected at 7.5 lakh to 8
Maruti Suzuki India is kicking off 'Maruti 3.0' targeting to add another 20 lakh units-production capacity in nine years with about 28 different models in the market by FY31, according to the company's Chairman R C Bhargava. Presently, the company has 18 models on sale in the Indian market.
As SUV sales continue to gain momentum in India with no prospects of demand for the smaller entry-level car market recovering to the growth rates of the past, the company, known for its small cars, is now restructuring its production facilities to conform to the realities and what we are projecting for the future.
Bhargava also said while the Indian car industry is not expected "to grow in double digits, like what happened in China in the past, we do expect that a 6 per cent growth rate will be maintained till FY 2030-31".
He further said, "It took us 40 years to create a capacity of 2 million units and SMC (Suzuki Motor Corporation) helped in this process by establishing the Gujarat facility. Your company now has to add the next 2 million in a period of 9 years."
Bhargava also hinted at possible structural reorganisation, saying the task of managing all the issues relating to the production of 40 lakh units a year "requires considerable thought and possible reorganisation of the structure of the company keeping in view the best interests of all shareholders as well as other stakeholders of the company. We will, as soon as possible, announce what we are proposing".
Maruti Suzuki expects the demand for exports to continue to grow and export volumes are projected at 7.5 lakh to 8.
Lakh cars by FY 2030-31, he said, adding the domestic plus export requirements have made it necessary for the company to add another 20 lakh units of manufacturing capacity.