Maruti Suzuki to have six EVs in different segments by 2030: Shashank Srivastava

  • The Maruti Suzuki key official believes that EVs will become mainstream but is not sure when that will happen.
Maruti Suzuki EVX was unveiled at the Auto Expo 2023 as the brand's first-ever electric car concept.
Maruti Suzuki EVX was unveiled at the Auto Expo 2023 as the brand's first-ever electric car concept.

Maruti Suzuki may be a late entrant in the Indian electric car market, with its first EV still awaited for launch, but the auto company is aiming big in the zero-emission space. Shashank Srivastava, Maruti Suzuki India Limited's Senior Executive Officer (Marketing & Sales), said that the automaker plans to have at least six electric cars in its product portfolio by 2030. He further stated that these six electric cars would be positioned in different segments. Interestingly, Srivastava's comment comes after Maruti Suzuki unveiled its first-ever EV concept at the Auto Expo 2023 in the form of eVX.

The current market share of electric cars in India is one per cent of the total market. Shashank Srivastava believes that this will grow to around three per cent in 2024-25 and will further grow to around 17 per cent in 2030. He said that there would be around one million electric cars on Indian roads by 2030. "We will have six EVs in different segments by 2030. Our estimate is this market which is 1% today, will be around 3% in 2024-25 and will be about 17% in 2030, which is about out of 6 million cars, 1 million will be EVs in 2030," he said.

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Speaking at an event, Srivastava also said that electric vehicles would become mainstream, but when they become so is still unpredictable. Electric vehicles in India are increasingly finding a stronger footprint with growing positive consumer sentiment and a bulging number of options. Leading mass-market car brands like Tata Motors, Hyundai, MG Motors, Mahindra and Citroen have already launched their respective EVs in India alongside the luxury carmakers like Mercedes-Benz, BMW, Audi and Volvo. However, Maruti Suzuki is yet to penetrate the EV segment.

Srivastava further said that if a normal car is 100, then an EV is 160 due to the high cost of batteries. The Maruti Suzuki key official also said that his company is trying to bring down the battery costs. “If a normal car is 100, then EV is 160 due to the high cost of batteries. Maruti Suzuki is trying to bring down battery costs," he stated.

At the same time, he also said that Maruti Suzuki is looking forward to strengthening its SUV portfolio. Further adding to the market expectations, the Maruti Suzuki official believes that there will be almost six million car sales in India by 2030, compared to the 3.8 million cars sold in 2022.

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First Published Date: 26 Feb 2023, 12:45 PM IST
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