Maruti Suzuki's Multi-Fuel Strategy for India's Emission Targets
Key Ideas
- Maruti Suzuki Chairman emphasizes the importance of diverse fuel technologies like hybrids, CNG, biogas, and hydrogen to achieve India's Net Carbon Zero Emission target.
- The company plans to launch its first EV model soon and increase exports significantly by 2030, focusing on a multi-fuel approach rather than only EVs.
- Maruti Suzuki aims to introduce 6 EV models by 2030, expand into rural markets, and maintain a balanced inventory level to cater to evolving customer demands.
- Uttar Pradesh government's waiver of road taxes on hybrids shows a positive step towards hybrid adoption, with Maruti Suzuki actively pursuing cleaner technologies like solar power and biogas production.
Maruti Suzuki Chairman RC Bhargava, at the 43rd annual general meeting, highlighted the importance of diverse fuel technologies to meet India's Net Carbon Zero Emission target. The company is exploring hybrids, CNG, biogas, and hydrogen fuels alongside its upcoming EV launch. Maruti plans to introduce its first EV model soon and significantly boost exports by 2030, aiming for a portfolio of 6 EV models by the end of the decade. The focus is on a multi-fuel strategy, acknowledging the role of different technologies in reducing pollution and oil consumption. The company also targets market expansion into rural areas while maintaining a balanced inventory level. Maruti Suzuki's proactive approach towards cleaner technologies includes establishing solar power and biogas units. Bhargava's positive outlook reflects confidence in the revival of the small car market and the potential growth in demand by FY 2025-26. With a strong position in the small car segment, including popular models like Swift and Alto, Maruti Suzuki is poised for continued success in India's evolving automotive landscape.