Maruti Suzuki is aiming to launch its first electric vehicle by 2025. India would be the first country to see the new EV, followed by Japan and Europe. This move is expected to accelerate the adoption of electric vehicles.
The first EV model is likely to be priced at $13,700 or less, after government subsidies are taken into account, as mentioned in a report in Nikkei Asia. With Suzuki, all major Japanese automakers are set to enter the EV market.
While the government has been pushing for an EV ecosystem, sales have been slow in India. With EVs in the lineup of Maruti Suzuki that has a market share of 50 per cent in India, the country might see faster adoption of electric cars.
Many carmakers have already announced plans to release EVs in the country.
The company’s EV foray comes after Maruti Suzuki said that it would invest $9 billion by March 2026 for research and development in automotive electrification. The auto giant already offers hybrid cars in India.
Battery production plans are also underway, as mentioned in the report. The company is building a battery plant in India with car parts maker Denso and Toshiba. The plant is expected to open in September to make lithium ion batteries for Maruti Suzuki’s hybrid cars.
Honda, Toyota, Mitsubishi and Nissan are already working on developing compact EVs.
The Indian government aims electric cars sales to amount to 30 per cent of all newly sold cars by 2030.