Maruti Suzuki India chairman RC Bhargava said on Wednesday that the company’s maiden electric vehicle (EV), which it is planning to introduce in the market in 2025, will be positioned in the upper segment of the market.
The country’s largest manufacturer of internal combustion engine-powered passenger vehicles (PVs) witnesses a significant contribution to its volumes from relatively affordable models. For instance, the company sold 7,88,000 hatchbacks in FY22 and had a 68.4 per cent share in the segment.
Maruti’s EVs will be produced at the Suzuki Motor Gujarat plant. “In the beginning, they will be in the upper segment of the market. They are not going to come in the lower end of the market initially. We hope to get good customer acceptance for these EVs as these have been carefully designed and made,” Bhargava informed shareholders at the company’s annual general meeting (AGM).
He also said that the level of indigenisation in the EVs will be high because of the upcoming battery plant. On August 28, Prime Minister Narendra Modi laid the foundation stone of Suzuki Motor Gujarat EV battery manufacturing facility at Hansalpur, Gujarat.
Talking about the sport utility vehicle (SUV) segment, Bhargava said that it is the fastest growing segment in the market today and Maruti has now started introducing some exciting new products in it.
The company launched the new version of Brezza, which is a sub-four metre compact SUV, in June. The prices of the new Grand Vitara mid-size SUV, which was unveiled in July, are expected to be revealed in September. FE