Maruti Suzuki aims to explore wider spectrum of greener fuel solutions
Maruti Suzuki may be a late entrant in the electric vehicle market, but the automaker is leaving no stones unturned when exploring a broader spectrum of greener fuel solutions, reports PTI. The automaker plans to explore a wide range of greener fuel technologies like hybrids, CNG, bio-CNG, ethanol and electric. Maruti Suzuki CFO Ajay Seth said that the automaker plans to adopt this strategy to support the Indian government's twin objectives of reducing oil imports and achieving net zero by 2070.
Maruti Suzuki has been selling CNG iterations of its petrol vehicles for quite some time. Models like Alto, Celerio, WagonR, and S-Presso have been selling in petrol-only and petrol-CNG fuel options across the country for quite a long time. With this strategy, the car brand has established a stronghold in the CNG passenger vehicle segment. Also it has been selling smart hybrids as well. However, it aims to enhance that leverage and penetrate new segments.
Speaking about the CNG vehicle sales, Maruti Suzuki claimed that while the automaker is fine with the penetration levels at the moment, it is concerned with the abnormally high prices of the fuel. Interestingly, while the CNG price is significantly lower than petrol or diesel, its cost has been upped dramatically in the recent past, putting pressure on CNG vehicle consumers.
Also check these Cars
Meanwhile, commenting about the car manufacturer's product strategy, the Maruti Suzuki CFO also noted that the auto company is now looking to claim leadership in the sports utility segment by introducing two new products - Jimny and Fronx- uncovered at the recently concluded Auto Expo 2023. Both the SUVs have witnessed a pretty good response.
Meanwhile, speaking about the auto company's sales growth outlook, Maruti Suzuki India's executive officer of corporate affairs, Rahul Bharti, said that the demand scenario seems to be healthy as of now. "Industry is yet to come out with a number... what we are thinking is that we should grow faster than the industry," he added.