Suzuki might be the late entrant in the electric vehicle segment, but the Japanese auto giant wants to maintain sustainable growth with significantly large volume. In an attempt to do so, Suzuki is aiming to produce around 35,000 units of the EVs annually in India from the financial year 2020-2021. The first pure electric car from Maruti Suzuki in India will be the Wagon R EV that will launch here in 2020.
Suzuki has tied up with Toyota in global level to develop EV technology jointly and Maruti Suzuki is going to be benefitted from this partnership. Suzuki will produce the lithium-ion battery packs for its electric vehicles locally in India. With these locally produced lithium-ion battery packs, Suzuki hopes to keep the pricing of the electric vehicles in India.
Mahindra and Tata Motors have already advanced in the electric vehicle segment of Indian car market. While, Mahindra sells the e2o Plus and e-Verito, Tata Motors has developed the Tiago EV and Tigor EV. Several other car brands have expressed their desire to enter the Indian EV market. In this scenario, Maruti Suzuki doesn’t want to stay behind in the race.
Presently Indian EV market is pretty small as only 25,000 units of EVs were sold in the country at the end of the financial year 2016-2017. Among these 92% were two-wheelers. However, the sales of electric cars is expected to grow significantly in the next decade, as Indian government is pushing the zero emission pure electric mobility across India with various initiatives.
