The Japanese auto major will invest Rs 2.82 lakh crore by the end of the decade, targeting 50 percent carbon-neutral technologies
Suzuki Motor Corporation has pledged to invest JPY 4.5 trillion (Rs 2.82 billion) by the end of 2010 to double its turnover to Rs 4.39 billion and contribute to a carbon-neutral future.
The parent company of India’s largest automaker expects internal combustion engines to account for 60% of its domestic market in the next 10 years, in a strategy document presented to shareholders on Jan 26. To capitalize on the growing electrification sector, Suzuki plans to have a portfolio of six models in the country by 2030.
The company predicts that hybrid electric vehicles will make up 25% of its total sales by 2030. This is 10% above his 15% share of zero-emission battery electric vehicles. This was revealed in the company’s IPO presentation today “In India, the battery EV SUV unveiled at Auto Expo 2023 will go on sale in FY2023, with six modes expected in FY2030. In order to provide a wide range of products and services, we also offer carbon-neutral internal-combustion-engine vehicles that run on CNG, biogas, and ethanol blends.”
Suzuki expects India and Africa to be the fastest-growing regions. The Indian economy is expected to grow from 1.6 trillion at present to 13.5 trillion by 2050.
Of the 4.5 trillion yen, 2 trillion yen is for electrification, and 500 billion yen is for batteries. Invest 2 trillion yen in research and development expenses such as electrification and carbon-neutral technology such as biogas. We plan to invest 2.5 trillion yen in BEV battery equipment and renewable energy equipment,” the company said.
Consolidated sales for FY2010 are expected to be 4.5 trillion yen, exceeding the medium-term management plan target of 4.8 trillion yen for FY2025 and reaching 7 trillion yen for FY2030.
Suzuki Motor Corporation’s medium-term strategic plan “Fiscal Year 2030 Growth Strategy” is based on the motto of delivering “valuable products” from the customer’s perspective. In order to carry out its own growth strategy for FY30, Suzuki has established its manufacturing philosophy of “small, light, short and aesthetically pleasing”, “lean management” which emphasizes flexibility, and management that emphasizes agility. The strategy statement released today shows the spirit of challenge and the principle of the “Three Realities”, which omits the unreal and focuses on real places, things, and situations.
With a focus on Japan, India, and Europe, Suzuki will contribute to a decarbonized society and economic growth in emerging markets such as India, ASEAN, and Africa. Developing customized solutions for the countries and regions where we operate will be at the forefront of our focus,” the statement continued.
Suzuki aims to achieve carbon neutrality by 2050 in Japan and Europe and by 2070 in India, based on target dates set by the respective governments.
As for EVs in Japan, the introduction of battery EVs for commercial mini vehicles will begin in FY2011, and six models of compact SUVs and mini-passenger cars are planned to be introduced by FY2030. The company also emphasized the growing role of hybrids, arguing that Suzuki will develop next-generation hybrids for mini and compact cars and combine them with battery electric vehicles to provide customers with a range of options.
Additionally, the company will introduce eight electric vehicles for the two-wheeler segment covering various mobility needs such as commuting, schooling, and shopping. Battery electric vehicles will be introduced in FY2024. Plan to launch 8 models by the end of the fiscal year.
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