Why Maruti Suzuki is not betting on electric vehicles in India

Maruti says it will enter the space only when it makes it feasible for customers in terms of affordability.1 min


Maruti Suzuki is in no hurry to join the electric vehicle race in the Indian market. At a time when the government is also pushing for EVs, the company says it will enter the space only when it makes it feasible for customers in terms of affordability.

Addressing shareholders at the company's annual general meeting held virtually on Tuesday, Chairman RC Bhargava said the country's largest carmaker is looking at the electric vehicle (EV) space but will enter it only when it makes it feasible for customers in terms of affordability and also for the company to operate without making a loss.

Talking about the company's plans for EVs, he said that India EVs will be able to penetrate in large numbers only when these become affordable to consumers.

"Maruti will be in the electric vehicle sector. We will introduce electric vehicles, but we will do that at an appropriate time when it will be feasible to sell these electric vehicles in reasonable numbers and when it will be feasible to sell them without making a loss on the whole operation," Bhargava asserted, PTI quoted.

The automobile industry has already started preparing for a transition to electric mobility with companies like Tata Motors, Mahindra and Mahindra, Bajaj Auto, TVS Motor Co and others launching their respective electric vehicles across segments. 

The Indian government has extended the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric vehicle (FAME) scheme by two years to March 31, 2024, to push sales of electric vehicles.

Join our list

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.


Like it? Share with your friends!

0 Comments

Your email address will not be published.

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format