Maruti Suzuki will be launching its EVs for the Luxury Market

    - Advertisement -

    According to the company’s chairman R C Bhargava, Maruti Suzuki’s first electric cars (EVs) will be introduced to the luxury automotive market. In response to queries from shareholders at the company’s annual general meeting held here, he stated that the automaker plans to introduce its first EV in FY25.

    In addition, according to its green energy initiative, Maruti Suzuki would produce anywhere from 400,000 to 500,000 CNG cars in 2022–2031, a significant increase over the about 250,000 CNG cars made in 2021–2022, he said.

    He pointed out that when these EVs are released, they will first be in the higher sector of the market. The battery plant that is being built will also result in a better level of indigenization for EVs, he continued.

    - Advertisement -

    In Hansalpur, Gujarat, Prime Minister Narendra Modi laid the cornerstone for Suzuki’s EV battery plant on Sunday. The corporation put its EV plans on hold for the past several years due to high acquisition costs and “range anxiety,” which is the driver’s worry that the car would run out of power and they won’t be able to find a charging station. Maruti Suzuki, however, concentrated on alternative technologies like CNG and hybrid.

    Tata Motors, MG Motors, Mahindra & Mahindra, Hyundai, and Kia Motors are just a few automakers who have already introduced their electric vehicles in the nation. In a nation with some of the most polluted cities in the world, the government is counting on electric vehicles to lessen the reliance on fossil fuels and reduce emissions.

    The market share of Maruti Suzuki decreased from a high of 51.21 percent in FY19 to 43.38 percent in FY22. Its consolidated net profit decreased by 11.6% to Rs 3,879 crore in FY22 from Rs 4,389 crore in FY21The company’s market share and profits have declined, according to Bhargava, for a variety of reasons.

    Maruti Suzuki
    credit: businessinsider

    Then Covid-19 arrived in 2020–2021 and remained there in 2021–2022, he claimed. The maximum permitted levels of pollutants that an automobile or a two-wheeler exhaust can produce are defined by the unit emission rules known as BS-IV and BS-VI. The BS-VI emission requirements are tougher than the BS-IV.

    - Advertisement -

    Aside from the epidemic, there have been shortages of semiconductors around the world in recent years, he continued. Additionally, he added, the crisis between Ukraine and Russia caused a surge in commodity costs, which in turn drove up the cost of automobiles.

    He claimed that because sales and production are increasing and there is some relief in sight on the two fronts of semiconductors and material costs, things should start getting better soon. According to Bhargava, Maruti Suzuki is researching compressed biomethane gas fuel because it has “enormous potential” for the nation. According to him, Maruti Suzuki will provide more than 60% of its global sales to its Japanese parent company Suzuki Motor Corporation this fiscal year.

    Also Read:

    - Advertisement -


    - Advertisement -

    Get in Touch


    Please enter your comment!
    Please enter your name here

    Latest Posts