Maruti Suzuki to roll out EVs by 2025, Expects EV Share At Third Of Government Targets

Highlights :

  • Maruti Suzuki’s own estimates of EV share at 8-10% well short of government target of 30%.
  • Elevated costs of Lithium batteries is one factor that will definitely impact faster roll out of EV’s.

Maruti Suzuki Chief Executive Officer, (CEO) Hisashi Takeuchi has announced that the company will launch several EV models by 2025 in India to catch up with competition and take the company to leadership position in the sector. Maruti Suzuki says that the first EV model of the company will come in 2025 and other models will follow soon. Interestingly, Takaeuchi mentioned a scenario of 8-10% share of EV’s by 2030, that the company was preparing for, a figure well below official targets for 30% share of EV’s by 2030.

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The electric vehicles from Maruti Suzuki will first be manufactured in the plant of Suzuki Motor Gujarat. Hisachi Takeuchi said, “We are a little behind our competitors in introducing the (EV) model to the Indian market, but we see that still, the market demand for those EVs is limited. Sales of EVs in the Indian market are still very, very limited.”

Takeuchi added that, “We have been doing tests and developing models prepared for India specification. That it’s not just one. We said by 2025 we will introduce an EV but there are plans (for others) to follow. I’m sure that we can be very strong in the EV space also when we introduce our products into this EV market.”

The CEO stated that electric vehicles remain expensive and making affordable EV with the current technology is quite a challenge. Recently Suzuki Motor had announced its plan to manufacture electric vehicles and EV batteries in Gujarat’s plant and invest Rs 10,445 crore until 2026 for the same. Takeuchi stated, “The investment this time is at Suzuki Motor Gujarat plant but that does not mean that we will not produce EVs in Maruti Suzuki’s plants, we have to produce in every factory over Maruti Suzuki as well as Suzuki Motor Gujarat once EV becomes popular in India.”

Decision to manufacture electric vehicles at Suzuki Motor Gujarat is taken because the company not just wants to sell its electric vehicles in the Indian market, but also export the same to foreign destinations.

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