Maruti Suzuki to launch 4 EVs by FY2030; aims for 50% market share

Suzuki has set a sales target of 4.2 million units by FY2030, with the Indian market expected to contribute more than 60%.

Maruti Suzuki recently announced its mid-term management plan for FY2025-FY2030. It also sheds light on the brand’s product strategy for the Indian market.

We have witnessed Maruti Suzuki’s market share drop below 50% with increasing competition from rival brands. The carmaker aims to reclaim it by FY2030.

New product launches will play a key role in the company’s bid to reclaim its lost market share, which includes four new EVs by FY2030. The brand’s first electric offering will be the e Vitara, which is expected to be followed by an entry-level electric hatchback and an electric MPV.

Suzuki has set a sales target of 4.2 million units by FY2030, with the Indian market expected to contribute around 2.54 million units or more than 60% of the brand’s global sales.

By FY2030, conventional ICE models will contribute around 60% of the overall sales, while BEVs will make up 15% and hybrids will account for 25% of the total sales.