Maruti Suzuki's Vision 3.0: Expanding the Portfolio

Maruti Suzuki's Vision 3.0: Expanding the Portfolio

Maruti Suzuki is set to expand its footprint in the automotive market with a significant product onslaught. Under its Vision 3.0 roadmap, the company aims to increase its portfolio from 17 to 28 models by the end of this decade. While continuing to cater to the demand for internal combustion engine (ICE) and CNG models, Maruti is shifting its focus towards flex-fuel vehicles, ethanol-powered cars, hybrids, and electric vehicles (EVs).

Introducing the Maruti Electric MPV

Maruti currently leads the entry-level MPV segment with popular models like the Ertiga and XL6. As the automotive industry moves towards electrification, Maruti is developing an all-electric MPV, internally codenamed YMC. This new electric MPV will share its powertrain and battery pack with the upcoming eVX compact electric SUV. Slated for launch in the second half of 2026, the YMC will be Maruti's first venture into the electric MPV market.

Platform Collaboration with Toyota

The platform for the eVX SUV, developed in collaboration with Toyota will also be utilized for the electric MPV. This versatile platform can support multiple body styles making it suitable for a range of future models. While the eVX is expected to debut later this year, the electric MPV will follow approximately one and a half years later. With the addition of the electric MPV, Maruti aims to provide more options for consumers seeking a 3-row vehicle.

Maruti Suzuki's Vision 3.0: Expanding the Portfolio - background
Maruti Suzuki's Vision 3.0

Expanding the 3-Row Model Range

Maruti's current lineup of 3-row models includes the Ertiga, XL6, and Invicto MPVs. With the launch of a hybrid MPV based on the Suzuki Spacia and a 7-seater SUV based on the Grand Vitara, the company intends to further broaden this range. By providing a wide variety of 3-row cars with several powertrain options, Maruti hopes to improve its market standing and successfully take on both present and potential competitors.

Focus on Affordability and Range

Maruti's commitment to affordability will extend to its upcoming hybrid and electric vehicles. The electric MPV is expected to borrow battery pack, electric motor, and other powertrain components from the eVX, which will have battery options of 40 kWh and 60 kWh. These options could also be available for the electric MPV, potentially offering a range similar to the eVX's 550 km. The equipment list for both the eVX and the electric MPV is anticipated to have multiple common features.

Catching Up in the EV Segment

While competitors like Tata and MG have already launched affordable options in the EV segment, Maruti Suzuki is yet to make its debut. The company's strategy to focus on born-electric EVs rather than converting ICE vehicles to EVs has led to a delay in its entry into the market. However, with multiple new EVs planned for launch in the coming years, Maruti is poised to catch up with its rivals. Currently, Tata Motors dominates the entry-level EV segment with more than two-thirds of the market share, followed by MG Motor with around 15%, and Mahindra with 8-9%.