Muristek
Vijay C RoyChandigarh, March 22
Maruti Suzuki India, which sells nearly every second car in India, is likely to roll out electric vehicles from Gujarat by 2025 as its parent Suzuki Motor Corporation has announced that it would invest Rs 10,440 crore for electric vehicles (EVs) and battery manufacturing units in Gujarat.
The lion's share of the investment — Rs 7,300 crore — will go towards the battery manufacturing unit with a production target of 2026 while the EV sector will see investment of Rs 3,100 crore with a production target of 2025. Also, Maruti Suzuki Toyotsu will see an investment of Rs 45 crore for construction of vehicle recycling plant which is likely to be operational by 2025.
The development is seen as a move that could massively bolster transition towards electric vehicles in the country. With a large part of the production localised, the industry expects Maruti to launch an electric car at cheaper price than its peers.
It is anticipated that the sale of electric four-wheelers is likely to touch 11,500-unit mark by the end of the current fiscal, while the total passenger vehicle sales in India is expected to cross 30 lakh units by the end of the current financial year.
Notwithstanding lower volumes, leading passenger vehicle manufacturers such as Mahindra amp; Mahindra, Hyundai and Tata Motors have already announced their electric vehicle plan for India.
Mahindra amp; Mahindra will invest Rs 3,000 crore while Tata Motors plans to invest Rs 15,000 crore over the next five years. Hyundai India has lined up over Rs 4,000 crore and the company plans to launch as many as six electric vehicles by 2028.