Maruti Suzuki plans to launch one electric car a year till 2031

Maruti Suzuki is yet to launch its first-ever electric car, which will be based on the eVX concept that has been showcased multiple times in various automotive events in India and abroad. However, despite being a late entrant and yet to commercially launch its first EV, the automaker is planning to introduce one electric car every year, according to a report by Bloomberg. The biggest car manufacturer in India is also planning to emphasise more on SUVs, a space that has been bulging rapidly and has become the driving force of the Indian passenger vehicle market over the last few years, subsiding the small cars.

Speaking of the auto company's EV strategy, Rahul Bharti, Chief Investor Relations Officer of Maruti Suzuki reportedly said that the first electric car of the OEM would be displayed at the Bharat Mobility Global Expo next year, which is scheduled to take place between 17th and 22nd January 2024. He also reportedly said during the automaker's post-earnings call that a second electric car is also close behind and would be introduced soon after the first model. However, he didn't give further details. Bharti reportedly added that Maruti Suzuki will continue to launch one electric car every year until 2031.

Watch: Maruti unveiled eVX EV Concept at Auto Expo 2023

Despite being the top position holder in the Indian passenger vehicle market for decades and having about 50 per cent market share, Maruti Suzuki has lagged behind its peers in launching environment-friendly cars, especially electric vehicles. The automaker currently sells CNG and hybrid cars, which are considered greener and cleaner than pure petrol or diesel vehicles, but the OEM has no battery electric vehicle on offer, while its rivals like Hyundai, Tata Motors, JSW MG Motor already sell respective electric cars in the Indian market.

Maruti Suzuki to continue focusing on SUVs

Maruti Suzuki has been known for sparking the affordable small car revolution in India in the 1980s with its iconic Maruti 800. With the evolving market dynamics and consumer preferences, the automaker has started addressing the new-age buyer's demand for SUVs and crossovers by adding larger vehicles into its product lineup. The launch of models like Brezza, Grand Vitara etc has given the OEM traction in the utility vehicle segment.

In the June quarter, between April and June this year, Maruti Suzuki claims to have sold more than 521,000 passenger vehicles, including SUVs and crossovers. Its utility vehicle sales have registered a growth of 29 per cent from last year, claimed the automaker, while sales of entry-level models declined by 12.4 per cent.

Now, in an attempt to continue the momentum, Maruti Suzuki aims to invest 45,000 crore to double the production capacity to 40 lakh cars by 2031, as Chairman R.C. Bhargava told shareholders in August last year. A significant chunk of these vehicles is going to be utility vehicles, hinted the automaker.

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.