Monday, October 3, 2022
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Report: Japan’s Suzuki Motor has a big stake in India, will invest $ 1.3 billion in the country’s plant for electric vehicles

Japanese automaker Suzuki Motor (Suzuki Motor) is reportedly planning to invest $ 1.3 trillion (about Rs 98 billion 73 crore) in the Maruti Suzuki (Maruti Suzuki) factory in the country to manufacture EVs and batteries. Is. This move may accelerate the mass adoption of Electric Vehicles (EVs) in the country. Maruti Suzuki is the largest carmaker in India and its entry into the EV space could potentially give a tremendous boost to the battery-powered passenger vehicles segment here. 

Suzuki Motor Corporation
Suzuki Motor Corporation – Photo : Suzuki
MSIL MD had also suggested
that Suzuki Motor may establish India as a base for electric vehicles to meet the local demand, news agency Reuters said, citing Japanese media reports. may increase. Kenichi Ayukawa, MD and CEO of Maruti Suzuki India Limited (MSIL), had earlier suggested that the Suzuki plant in Gujarat might be developed as an EV hub. 

Maruti Electric Car
Maruti Electric Car – Photo: For Reference Only
Plans have not been disclosed
At present, the Indian EV sector is dominated by electric two and three-wheelers. While there are a lot of options in the electric car space. Almost all of these are in the luxury segment, which are priced around Rs 1 crore and above. Tata Motors continues to dominate the ‘affordable’ EV space with the Nexon EV and Tigor EV electric models. But while companies like MG Motor (MG Motor) and Hyundai (Hyundai) have confirmed bringing more affordable EV models to the country, Maruti Suzuki has so far remained silent about its plans. 

Maruti Electric Car
Maruti Electric Car -Photo : For Reference Only
WagonR EV Testing Continues
There have been reports of Maruti Suzuki testing the WagonR electric model and it has also been spotted during a trial run. But Maruti Suzuki has earlier said that it will enter the EV space only if it feels that it can manufacture and sell electric cars in large quantities. 

Maruti Electric Car – Photo : For Reference Only
EV sales in India quite complicated
Maruti Suzuki India President RC Bhargava said last year, “Maruti Suzuki is a leader in the passenger vehicle industry, and it absolutely intends to take the lead in EVs. But it is important to understand that EV penetration will happen in India only when conditions become such that consumers can buy it. Bhargava had also said that selling electric cars in India is not easy due to its high cost. 

Maruti Suzuki Baleno 2022
Maruti Suzuki Baleno 2022 – Photo : Maruti Suzuki
Maruti Suzuki currently sells only petrol and petrol-CNG models in the country. The company had discontinued the diesel engine model a few years back.
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