Trends
Suzuki sees India’s automobile market growing fivefold by 2047
OUR TAKEIndia’s automotive landscape is poised for significant change. Kenichi Ayukawa, Executive Vice President of Suzuki Motor, has predicted that India’s car market will grow to 20 million units by 2047, driven largely by advances in battery electric vehicles. In addition, Suzuki is focusing on d…
Headline
OUR TAKEIndia’s automotive landscape is poised for significant change. Kenichi Ayukawa, Executive Vice President of Suzuki Motor, has predicted that India’s car market will grow to 20 million units by 2047, driven largely by advances in battery electric vehicles. In addition,…
Context
OUR TAKE India’s automotive landscape is poised for significant change. Kenichi Ayukawa, Executive Vice President of Suzuki Motor, has predicted that India’s car market will grow to 20 million units by 2047, driven largely by advances in battery electric vehicles. In addition, Suzuki is focusing on developing EV models tailored for everyday use, which will require significant advances in battery technology. This strategic shift by Suzuki indicates a strong commitment to capitalise on India’s burgeoning EV market, in line with global trends towards sustainable transport solutions. The focus on domestic battery production reflects Suzuki’s proactive approach to improving supply chain resilience and localising critical technologies, which could position the company favourably in India’s competitive automotive sector. –Heidi Luo, BTW reporter India’s car market is expected to reach 20 million units by 2047, boosted by significant advances in battery electric vehicles, according to Kenichi Ayukawa, executive vice president of Suzuki Motor Corporation.
Evidence
Pending intelligence enrichment.
Analysis
Suzuki’s strategy is to achieve a dominant 50% market share by 2030 through the Japanese carmaker’s subsidiary, Maruti Suzuki India Limited. Suzuki also plans to launch its first EV models in India and Europe from 2025. And its production models will be unveiled at the upcoming Auto Expo in January, according to Ayukawa. In addition, Suzuki plans to focus on developing models suitable for everyday use, which will require the development of new battery technologies. And as part of Suzuki’s future strategy, Ayukawa says it will be possible to produce battery cells domestically within the next 5 to 10 years. Also read: Cred fintech in India: Redefining credit card payments Also read: Who is Kunal Shah? Founder and CEO of Cred transformed Indian fintech
Key Points
- Suzuki expected India’s car market to grow to 20 million units by 2047, driven by advances in EV technology.
- The Japanese carmaker aimed for a 50% market share in India by 2030, with plans to introduce EV models from 2025.
Actions
Pending intelligence enrichment.
