Maruti Suzuki is going to be a sort of the last manufacturer in the nation, India, to enter the EV market. As per the latest details available, Maruti’s first electric car is expected to launch in 2025. It means that the launch still has three years to go. So the chairman of the company, Mr RC Bhargava, bats for the strategy with some sound reasoning.
Furthermore, the chairman of the company does agree that petrol and diesel vehicles need to be discouraged. This is because such versions do create pollution in the environment. However, when considering practically, the chairman quotes that electric versions of vehicles could not be the only solution for producing clean and clear mobility options in the future.
In this row of high arguments, the chairman of the company further bats for hybrids and CNG-powered vehicles. So here Mr Bhargava seeks incentivisation of the mentioned technologies which are considered to be of the intermediate level. He makes sure to be transitioning to full-time EVs in the future.
Moreover, the chairman has put forward a comment that India still has less purchasing power. It is much less than what is present in the western nations. He said that there is still a big corner for the development of ICE vehicles in the coming times in India. He further states that there are still many people and families in India who are waiting for their first car. So there is good market potential in the nation.
To wrap up, it would be a bit early to say that the company has put all its hopes for its new EV battery manufacturing unit in the region of Hansalpur in Gujarat state. This facility unit will have an investment of the potential of 10,400 crores. It will come from Suzuki Japan, and there would be a huge overall investment of approx. 73,000 crores.