Maruti Suzuki India Limited released its Annual Integrated Report for the financial year 2019-20. In addition to this, the Company has also highlighted its contribution to the various Sustainable Development Goals (SDGs).
Addressing stakeholders through this report R C Bhargava, Chairman, Maruti Suzuki India Limited, said “The COVID-19 epidemic has given your Company, as well as its vendors and dealers, an opportunity to review all systems of working and become more efficient and competitive. Thus, while we are going through difficult days, I believe we will all emerge stronger and fitter in the future.”
On the current market situation Bhargava added, “The market, at present, seems to favour smaller hatchbacks and petrol and CNG cars. Fortunately, we are well placed for such products.”
On Company’s approach towards Human Resources Bhargava added, “The well-knit team of employees continues to the greatest strength of your Company. Over decades they have shown that when all employees of a company work unitedly for its growth and prosperity, a win-win situation is created for everyone. The competitiveness of the Company remains very high and it is able to meet and overcome all challenges. The full potential of employees, including the blue-collar workers, is enabled to develop fully under this form of management.”
Sharing optimism he concluded, “I look to the future with a great deal of optimism. Many new opportunities are likely to open as the world adjusts to the post COVID-19 scene. The government has always been very supportive of manufacturing and I expect conditions for increasing our competitiveness and growth will continue to get better in the coming year.”
Addressing stakeholders through this report, Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited said, “India’s long-term economic prospects are promising which augur well for the automobile business. Experience from the global financial crisis suggests that the Indian economy is quite resilient, and it may not be too far to think that the Indian economy may recover relatively faster this time as well. The Company is making all-round efforts to both participate and drive this recovery.”
Ayukawa explained Company’s approach to tackle the COVID-19 pandemic, “This crisis may change our businesses and society in some ways. This may require careful analysis of the changed world and accordingly, the strategy, resources and structure need to be realigned. This crisis may lead to the emergence of new opportunities, skill sets and technological solutions, and we have to be quick in adapting to the requirements of the changed world. I firmly believe in ‘the survival of fittest’. The other important lesson this crisis has taught, is that the business environment has become far more dynamic and interconnected and far less predictable than before. At a time when the automobile industry is witnessing a once-in-a-century transformation across the world, events like COVID-19 further increase the complexity of business. We are fortunate to have support of our parent, Suzuki Motor Corporation (SMC) which has completed 100 years in March this year.”
On the technology front Ayukawa added, “One of the priorities of the world is to reduce carbon footprint and India also needs to reduce its oil imports. Your Company is strongly committed to this direction. In the last 15 years, the Company has reduced carbon emissions of its fleet by 20%. As measured by the CAFÉ regulation, your Company’s fleet has the least CO2 emission per vehicle among all car manufacturers in India. The Company is going further and following a philosophy of reducing carbon footprint with every new model introduction. For further reduction to meet the future CO2 targets, the Company is adopting a mix of powertrain technologies based on electrification and CNG. The Company is making efforts to electrify its powertrain, ranging from smart hybrids to strong hybrids to electric vehicles. The partnership between Suzuki Motor Corporation and Toyota Motor Corporation will help the Company to gain access to hybrid technology. SMC is not only providing its support for requisite technology, but also partnering to putting up India’s first Lithium ion cell and battery manufacturing facility.”