ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Maruti, Suzuki Motor working to develop low-cost hybrid cars

With a fleet of over 15 models, MSI currently commands 47% of the Indian passenger vehicles market.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Maruti, Suzuki Motor working to develop low-cost hybrid cars
MSI has till now exported around 2,300 India-made Baleno hatchbacks to the Japanese market. Photo: IANS

Country's largest carmaker Maruti Suzuki and its parent Suzuki Motor are working to develop low-cost hybrid compact cars as they prepare to maintain their stronghold in the Indian market with eco-friendly vehicles expected gain traction.

Terming development of smaller cars with hybrid technology as "as an area of big interest" for both the firm and parent Suzuki, Maruti Suzuki India Chairman R C Bhargava said they were trying to exploit the space for small cars with green technology as big companies like Toyota are currently focusing on bigger ones.

"In India it makes sense for hybrid technology for the smaller car because today globally there is no hybrid technology for small cars or low-cost car and that I think is needs to be developed. We, Maruti and Suzuki, are working on it," Bhargava said.

He, however, did not commit a time frame for coming out with such vehicles. The automaker currently offers only mild hybrid technology in Ertiga MPV and premium sedan Ciaz.

With a fleet of over 15 models, MSI currently commands 47% of the Indian passenger vehicles market. The company has set a target of selling 20 lakh units annually by 2020. It is expected to produce 16 lakh units this fiscal.

When asked about the MSI's plans to export more models to the Japanese market, Bhargava said the company would have to first assess the response to Baleno hatchback, its first India made model that is being exported to Japan.

"We will have to first look at the response for Baleno. It usually takes a year after the start of exports to ascertain the response for a particular model in a country," Bhargava said.

He said Japan has been traditionally a difficult market for foreign automobile makers to sell their products, as the US and Germany are the only two countries preferred by Japanese customers besides their homegrown firms.

MSI has till now exported around 2,300 India-made Baleno hatchbacks to the Japanese market.

On new export markets, he sounded bullish on African continent. "Africa in my mind, in times to come, offers great potential for the car market because the income levels in Africa will not be high in the years to come and they would like to buy affordable cars. So, we are specially keeping our contact with African markets and trying to see how to develop our market in that region," Bhargava said.

He said production facilities could be set up in such export markets going ahead if the company receives robust demand for its products. 

Elaborating on the importance of MSI in Suzuki's scheme of things, Bhargava said: "The contribution of Maruti to Suzuki and to its balance sheet is so large that Suzuki has recognised that its future to survive as an independent entity is largely dependent on its Indian operations."

It is that recognition that led Suzuki to invest something equivalent to $3 billion for expansion of Gujarat project in a very unique manner.

"...They really believe this is where the future lies," Bhargava said, adding MSI's market capitalisation is more than 50% than of Suzuki Motor Corporation. 

Commenting on domestic operations, he said the company this year aims to produce over 16 lakh cars. "As Gujarat expands we will move to two million and hopefully to 3 million cars. We (India) are currently the 5th largest car market in the world we should become fourth in the next 3-4 years," Bhargava said. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
MarutiSuzuki MotorMaruti Suzuki BalenoAutoR C Bhargava
Written By: PTI
Updated: Sun, Nov 06, 2016
12:38 pm
New Delhi, PTI
RELATED NEWS
How has Auto Expo 2023 been so far? Analyst lists takeaway – check key highlights of the event How has Auto Expo 2023 been so far? Analyst lists takeaway – check key highlights of the event
India’s Auto Expo set to return after 3 years; these prominent companies to skip marquee event – Details! India’s Auto Expo set to return after 3 years; these prominent companies to skip marquee event – Details!
Maruti Suzuki demand growth may decline in 2023: Maruti Suzuki Executive Director Maruti Suzuki demand growth may decline in 2023: Maruti Suzuki Executive Director
Maruti Suzuki may expand Manesar plant capacity by one lakh units by April 2024 Maruti Suzuki may expand Manesar plant capacity by one lakh units by April 2024
Stocks In Focus on October 28: Maruti Suzuki, Tata Power, Bandhan Bank and Dr Reddy Stocks In Focus on October 28: Maruti Suzuki, Tata Power, Bandhan Bank and Dr Reddy

LATEST NEWS

IDBI Bank manager arrested for swindling money from customers' accounts

ITC commences Rs 450 cr food manufacturing facility in Telangana

Q3 Results 2023: REC, CSB Bank net up 5%; TCI profit jumps 23% to 95 crore

Mercedes-Benz receives 1st Level 3 Autonomy approval for US market

Senior executives to see average pay hike of 9.1% in 2023: Study

Tech Mahindra Q3 Results: IT major beats analysts' estimates with 5% revenue growth, 80 bps margin expansion

Budget 2023: Check Nifty, Bank Nifty historical track record on last 15 budget days; analyst shares trading strategy for option traders

Budget 2023: From GST refund on purchases to GST reduction - Here's what renewable energy expects from Modi govt

Inflation in India expected to come down to 5% in 2023 and 4% in 2024: IMF

The Future of CFD Trading in India

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV