Maruti Suzuki, led by Chairman RC Bhargava, has outlined its timeline for the production of electric vehicles (EVs) in India. The company plans to start production by the end of FY25 with mass production kicking off shortly thereafter. This schedule was confirmed during Bhargava’s interview with CNBC-TV18.
In the early stages, Maruti Suzuki intends to export the majority of its first batch of electric vehicles to Europe, delaying significant availability in the Indian market until after April 2025. Discussing market trends, Bhargava also noted the shift from sedans to SUVs within the more expensive car segments, a trend he expects will persist.
Concerns over global EV sales Bhargava also voiced concerns about the current downturn in global electric car sales, particularly in China. A sustained decline could impact the overall automotive market, affecting material prices and demand.
Despite the slowdown, Maruti Suzuki is investing heavily in its electric vehicle infrastructure, with Rs 10,000 crore earmarked for capital expenditures on new product launches and capacity expansion. At the Vibrant Gujarat Summit in January 2024, it was revealed that Maruti Suzuki plans to export lithium-ion battery cells and modules valued at approximately Rs 750 crore this fiscal year.
Maruti Suzuki April sales
Maruti Suzuki India reported a 4.7% increase in total sales, reaching 168,089 units in April. This compares to the 160,529 units dispatched in the same month last year. The sales of domestic passenger vehicles saw a marginal increase, totaling 137,952 units compared to 137,320 units last April. There was a noticeable decline in the sales of mini segment cars, such as the Alto and S-Presso, which dropped to 11,519 units from 14,110 units in April 2023.
The compact car segment, which includes popular models like the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, also experienced a decline. Sales fell to 56,953 units from 74,935 units a year ago.