Maruti Suzuki (MSIL), India’s largest carmaker, is preparing to make a significant leap into the electric vehicle (EV) market with its inaugural EV, a mid-size SUV designed to offer 500 km range on a single charge. Powered by a robust 60-kilowatt-hour battery, this upcoming model is set to hit the market early next year, marking a notable entry in a growing segment of electric vehicles. The new SUV will be positioned against formidable competitors such as the Tata Curvv.ev, Hyundai’s anticipated Creta electric vehicle, and Mahindra’s electric SUVs.
Maruti Suzuki’s Ambitious Plans for EV to Deliver 500 km
At the 64th annual session of the Society of Indian Automobile Manufacturers (SIAM), MSIL’s Managing Director and CEO, Hisashi Takeuchi, shared exciting details about the company’s plans for its electric vehicle lineup. According to Takeuchi, the upcoming EV is just the beginning. MSIL plans to introduce multiple high-specification electric vehicle models, each featuring long-range batteries capable of delivering 500 km on a single charge. This ambitious strategy highlights Maruti Suzuki’s commitment to advancing electric mobility and catering to diverse customer needs.
In addition to catering to the domestic market, MSIL is also eyeing international expansion. Takeuchi revealed that the company intends to export its electric vehicle to developed markets such as Europe and Japan. This move aligns with Maruti Suzuki’s broader strategy to establish a global footprint and tap into the growing demand for electric vehicles in developed economies. By introducing models that deliver 500 km on a single charge, MSIL aims to position itself as a serious player in the global EV market.
Building a Comprehensive Ecosystem for electric vehicle
Understanding that the success of their electric vehicles hinges not just on the product itself but also on the supporting infrastructure, MSIL is working diligently to create a comprehensive ecosystem for electric vehicle buyers. Partho Banerjee, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki India, emphasized that the company is focused on addressing key concerns of potential electric vehicle customers. These concerns include the vehicle’s range, charging infrastructure, and the residual value of the EV after several years of use.
To address these concerns, MSIL is investing in the development of a robust charging network and exploring resale solutions to enhance the overall ownership experience. Banerjee highlighted that the company’s first electric vehicle model, which will be unveiled at the Bharat Mobility Show in January 2025, will benefit from these efforts. The goal is to provide a seamless and supportive experience for customers, ensuring that they have access to the necessary resources and infrastructure to fully utilize their EV’s capabilities.
Despite these proactive measures, consumer interest in electric vehicles has been relatively subdued. High purchase costs and lingering concerns about electric vehicle have contributed to a slow uptake. According to data from the Federation of Automobile Dealers Associations (FADA), electric car sales fell by 9.97% year-on-year in August 2024, with only 6,338 units sold. This decline is part of a broader trend observed over recent months, with electric cars accounting for just about 2% of total passenger vehicle sales.
In response to these challenges, electric vehicle manufacturers, including Maruti Suzuki, are offering significant discounts to stimulate demand. Banerjee remains optimistic, however, about the potential for increased sales during the festive season. He believes that as more consumers become aware of the benefits of electric vehicles and as the market adapts to the evolving landscape, interest in electric vehicle will rise.
Maruti Suzuki’s strategic focus on delivering an electric vehicle with a 500 km range, coupled with their efforts to build a supportive infrastructure, represents a crucial step in advancing electric mobility in India. As the company prepares to unveil its first electric vehicle and expand its offerings, it aims to address existing concerns, cater to diverse market needs, and contribute to the broader adoption of electric vehicles.
You might also be interested in – Maruti Suzuki exports 1,600 ‘Made in India’ Fronx SUVs to Japan in a historic first
