Suzuki Delays Future Electric Cars Amid Slowdown in EV Interest
Suzuki has announced that it is putting its plans for future electric cars on hold as it closely monitors the market trends. The decision comes at a time when there has been a general slowdown in the interest in electric vehicles (EVs), with the company citing tough competition from affordable Chinese EVs and the phasing out of government incentives as key challenges.
The Japanese automaker had initially planned to introduce four electric models before the end of the decade as part of a $35 billion EV investment. The first of these models, the eVitara, was launched recently. While Suzuki has teased the silhouette of the upcoming electric models, including ones that are likely to be based on popular models like the S-Cross and Ignis, the company has not provided a timeline for their release.
Speaking at the launch of the eVitara, Suzuki President Toshihiro Suzuki expressed uncertainty about the timing of the next electric car and the company’s goal of launching five EVs by 2030. He emphasized the challenges posed by the slowdown in BEV sales and the increasing competitiveness of Chinese EVs in the market.
Despite the current uncertainties, Suzuki reaffirmed its commitment to EV development, noting that it will continue to work on electrification alongside other alternative fuel technologies. The company is exploring the possibility of incorporating biogas fuel in markets like India as part of its parallel development strategy.
While the future of Suzuki’s electric vehicle lineup remains uncertain, the company remains focused on adapting to market trends and ensuring that its EV offerings meet the evolving demands of consumers. Stay tuned for updates on Suzuki’s electrification plans as the company navigates the rapidly changing automotive landscape.
