
Maruti Suzuki India, which rolled out its first electric car Friday as it plays catch-up with rivals, is planning to make India a manufacturing hub that can export electric vehicles to 100 countries.
“We have chosen India as a global manufacturing base due to its quality product and scale merit,” Toshihiro Suzuki, representative director and president, Suzuki Motor, said at the annual auto event in New Delhi.
Maruti Suzuki, India’s biggest automaker, will invest 21 billion rupees (R4.5 billion) to make the newly launched e Vitara at its Gujarat plant, Managing Director Hisashi Takeuchi, adding it would be the exclusive manufacturer for the e-car that will hit the market this year.
The company didn’t disclose any pricing for e Vitara, skipping a key detail as rivals aggressively muscle into India’s rapidly growing EV sector.
Maruti Suzuki’s next-in-line local rival, Hyundai Motor India launched the electric version of its SUV Creta on Friday at a competitive starting price of 1.8 million rupees (R388,000).
The carmaker is planning to introduce another five EVs by 2030, Maruti Suzuki’s Head of Sales and Marketing Partho Banerjee told Bloomberg News. It aims to be the largest EV maker in India by March 2026, Banerjee added.
Tall Order
It’ll a tall order for the automaker that has made a late entry to India’s EV market. Maruti Suzuki has a tough battle on its hands as a spate of local and global carmakers are also launching new EVs to tap one of the fastest-growing automobile markets.
Rivals including Tata Motors are already dominating the EV space and planning new car launches.
Also, the India government is looking to attract more global players, which could further intensify competition.
But the sector leader will be leaning on its strengths and has a track record of capturing a big slice of the market even if it enters late — with its diesel offerings and compact SUVs in the past.
Maruti Suzuki India’s “lineup and production push for the fast-growing SUV segment could help it expand sales volume and recoup lost market share,” Bloomberg Intelligence analysts Tatsuo Yoshida and Marie-Christine Yoko Huss wrote in a Jan. 16 note.
“A strong partner in parent Suzuki, which assumes advanced technology development, including electrification, is also an asset,” they wrote.
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