The parent company of Maruti Suzuki, Suzuki Limited has announced to set up a Lithium Ion battery manufacturing plant in Gujarat through this investment. The company has started work on this project and it is expected to be completed by 2024-2025.
Let us tell you that Maruti Suzuki has already started research and development for electric vehicles. The company is ramping up its sales and distribution network to foray into the electric vehicle market. In India, the electric vehicles of Maruti Suzuki will compete with the electric vehicles of Tata Motors, Mahindra and MG.
According to media reports, Maruti Suzuki’s first electric product could be an electric SUV. The company will launch this electric SUV in an affordable price range which can be between Rs 8 lakh and Rs 20 lakh. Tata Motors and MG Motor are also preparing to bring affordable electric vehicles to India. The competitiveness of EVs in the affordable SUV segment in India is expected to increase in the coming few years.
Let us tell you that last year, RC Bhargava, Chairman, Maruti Suzuki had revealed the introduction of the first electric car in 2025. He had said that the company is planning to invest heavily in battery, charging infrastructure and electric supply.
Maruti’s upcoming electric cars will be equipped with new technology and features. Understanding the need for new features in vehicles, the company has given HUD i.e. heads-up-display in the new Baleno. The company expects innovation in the new vehicle division to help improve EVs.
Maruti Suzuki sold 1.33 lakh cars in March
Maruti Suzuki has sold 1,33,861 units of passenger vehicles in March 2022, registering a decline of 8 percent. In the same month last year, this figure was 1,46,203 units. At the same time, in March 2022, the company exported a total of 26,496 cars, touching a new figure. In the financial year 2021-22, the total sales of Maruti vehicles stood at 16,52,653 units, which was 13.4 percent higher than the financial year 2020-21.