 "Upcoming Electric Cars: India’s auto industry is gearing up for a surge in electric vehicles in the coming years")
Electric Cars: India’s auto industry is gearing up for a surge in electric vehicles in the coming years. This shift is propelled by a new government policy aimed at promoting environmentally friendly mobility solutions.
Upcoming Electric Cars: India’s auto industry is poised for a surge in electric vehicles in the coming years, thanks to the new government policy promoting eco-friendly mobility solutions. As a result of this policy, major companies such as Maruti Suzuki, Hyundai, Mahindra & Mahindra, and Tata Motors are gearing up to launch new electric models to cater to the diverse demands of customers across different segments.
Nalinikant Golagunta, CEO Automotive Sector at Mahindra & Mahindra, stated that the company plans to introduce five new battery electric vehicles starting from January 2025, with the expectation that 20-30% of their portfolio will be electric by 2027.
Rahul Bharti, Executive Officer (Corporate Affairs) at Maruti Suzuki India, emphasized that auto companies are making significant investments in EVs. He mentioned plans to commence production of EVs with a range of 550km in FY 2024-25, with approximately six EV models expected to be introduced in the next 7-8 years.
Tarun Garg, COO of Hyundai Motor India, highlighted industry estimates suggesting that EVs are projected to contribute around 20% of the Indian automotive market by 2030. Hyundai intends to invest approximately Rs 26,000 crore in Tamil Nadu over the next 10 years, including the establishment of a battery assembly plant in the state.
A spokesperson for Tata Motors outlined the company’s goal of introducing 10 EVs by 2026, with plans to unveil four more EV models this year, including the Curve EV and Harrier EV. Luxury car manufacturers are also ramping up efforts to expand their EV lineup.
A spokesperson for Mercedes India stated, “We have invested in the market and plan to introduce more than 12 new products in 2024, three of which will be EVs.”