Maruti to join EV sector in India by 2025 as the demand is not high

Delhi -In the times when all car dealers are entering the electric vehicle sector in India to tap the potential market, Maruti Suzuki is in no hurry and focusing on what is in its pipeline at the moment.

Company Chairman RC Bhargava mentioned that Maruti will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less and it would like to sell around 10,000 units a month whenever it enters the electric mobility space.

As the second-quarter earnings of the company are disclosed, Bhargava added that at the moment a lot of things in the EV ecosystem such as batteries, charging, infrastructure, and electric supply are in the hands of the third party and since the costing is not in the hands of the company thus it is not very profitable.

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Tata Motors in India are leading in EV sector currently; people have shown gradual interest in that segment of vehicle and are making conscious choices. Bhargava clarified his statement by saying that unfortunately, they will not feel happy if they sell 300 or 400 or 500 or even 1,000 cars a month. For some reason they have gone too much higher volumes, and volumes in 100s and even 1,000s, are very good, but they leave us a little unexcited. So they have to see if they start selling EVs they would like to sell maybe 10,000 EVs in a month or something like that. The shift to electric mobility is part of the Indian government’s big picture.

They are pushing for this change so as to reduce costly oil imports and curb rampant pollution in its major cities such as Delhi, Bangalore and Mumbai. As per the FAME India Scheme II, the sales penetration target for EV is set as 40 percent of buses 30 percent of private cars 70 percent of commercial cars and 80 percent of two- and three-wheelers by 2030.