Suzuki Motor Corp. unveiled an ambitious mid-term management plan aimed at recapturing market share in India and accelerating its electric vehicle rollout, targeting global sales of 4.2 million units and operating profit of ¥800 billion ($5.7 billion) by fiscal 2030.
The Japanese automaker plans to invest ¥2 trillion in capital expenditures and another ¥2 trillion in research and development over the next six years, with a significant portion directed toward strengthening its position in India. The company aims to boost its Indian market share to 50% while establishing production capacity of 4 million units in the country.
Under the new strategy, Suzuki will introduce four battery electric vehicle models in India by 2030 as part of a broader push toward electrification. The company expects EVs, hybrids and CNG vehicles to make up 75% of its Indian sales mix by the end of the decade.
“We need to rethink our strategy due to declining market share in India and intensified competition in electric vehicles,” said Toshihiro Suzuki, president of Suzuki Motor. The company achieved its current mid-term targets ahead of schedule but faces growing challenges in its largest market.
The plan also includes expanding collaboration with Toyota Motor Corp. on electric vehicle development while maintaining their status as “equal partners who inspire each other.” Suzuki will leverage this partnership to jointly develop EV platforms and advanced safety technologies.
Beyond India, Suzuki aims to increase its presence in Africa and the Middle East, targeting 10% and 5% market share respectively. The company will supply these regions primarily with vehicles manufactured at its Indian facilities.
To support these goals, Suzuki announced it will raise its dividend payout ratio, targeting a dividend on equity of 3.0% to enhance shareholder returns through stable and progressive dividends.
