Maruti Suzuki aiming for higher EV shares by 2030
India's largest carmaker, Maruti Suzuki, has announced plans to launch six electric vehicles (EVs) by the end of this decade. Its first pure electric car is set to debut in 2025. Despite these ambitious plans, RC Bhargava, the chairman of Maruti Suzuki, expects only about 20% of the company's sales to be from EVs by 2030. This could be due to affordability concerns, which are limiting EV adoption in the lower price segment.
The carmaker unveiled eVX concept at the Auto Expo 2023
Maruti Suzuki showcased its eVX concept, a compact electric SUV, at Auto Expo 2023, promising a range of up to 550km on a single charge. However, Bhargava believes the lower car segment is not suitable for electric vehicles due to affordability concerns. He also noted that by the time Maruti Suzuki enters the EV market later this decade, there will be a large number of electric vehicles selling in India.
Maruti Suzuki WagonR was deemed unviable as an EV
The popular hatchback WagonR was converted into an electric car. However, the cost of developing it as an EV was so high that it would not be a viable proposition if put on sale, according to Bhargava. As a result, Maruti Suzuki is now developing a mid-size electric SUV, after witnessing the massive response to offerings such as the Tata Nexon EV and Mahindra XUV400 on our shores.
