TIL Desk/Business/New Delhi/ Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality.
The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
The announcement by Japan’s third-largest carmaker to pursue EV as a strategy to reduce its carbon footprint holds great significance for India — a market that it counts on heavily. It is the single-largest volume generator in terms of both production and sales, accounting for more than twice the volume generated by SMC’s home market in Japan.
