Suzuki turns to Toyota for lessons on small EVs

GREAT NOIDA, INDIA — Suzuki Motor plans to learn from partner Toyota how to use EV technology to build small electric vehicles, president Toshihiro Suzuki told reporters at India’s biennial auto show. told the group.

Suzuki said it is learning EVs and other technologies from Toyota with the goal of developing a car that more closely resembles its own products.

“How we bring this EV technology to small cars is something we need to work on and share with Toyota,” he said on the auto show’s sidelines.

After a slow entry into EVs, Toyota, which holds a 4.89% stake in Suzuki, is considering rebooting its electric vehicle strategy given the growing popularity of EVs.

Toyota currently offers only one fully electric vehicle, the bZ4X crossover, but plans to launch five more EVs in Europe under the bZ sub-brand by 2026.

Plans by Japanese auto giants have previously favored hybrid technology, assuming demand for EVs won’t grow for decades.

When asked if SMC would consider launching an EV built on a gasoline engine platform, Suzuki said the company would have to develop an EV from scratch.

The automaker unveiled a mid-sized eVX electric SUV concept at the show, and the automaker’s president said production vehicles would go on sale in 2025.

The Indian EV market is gaining momentum. Tata, which dominates electric vehicle sales in the country, and foreign companies his SAIC MG Motor, Mercedes Benz and Stellantis are expected to launch.

Suzuki, which plans to invest up to $1.3 billion to manufacture EVs and batteries locally, is pushing further into India, which is set to become an EV hub for Japanese automakers.

Suzuki is the majority owner of the Maruti and faces increasing competition from rivals as buyers shift to larger vehicles such as SUVs, regulators demand safer and greener vehicles and costs rise. This has pushed its market share from over 50% in 2019 to below 43%.

“One of the reasons why we were unable to maintain our 50% market share was the delay in the introduction of SUVs,” said Suzuki President Toshihiro Suzuki, who will try to regain market share by introducing more SUVs. He added that it is.

“We believe there is long-term growth potential in the small car segment. Efforts should be made to further penetrate and spread the sales of small cars and small cars in India,” he said. He added that he would work with Maruti to regain market share.

Maruti dominates Indian car sales with its small, low-cost vehicles, making the South Asian country one of the most important markets for Japanese companies.

India accounts for 50% to 60% of SMC’s revenue, a proportion likely to increase in the future, Suzuki said at an event held outside the capital New Delhi.

This article was optimized by the SEO Team at Clickworks SEO

Source link