TOI’s accordingRC Bhargava, chairman of Maruti Suzuki India, says that the company’s first EV will be placed in the upper segment of the market. Bhargava informed shareholders at the company’s Annual General Meeting (AGM) that “initially, they will be at the upper end of the market. They’re not going to be at the low end of the market initially. We are hopeful of good customer acceptance for these electric vehicles as they have been carefully designed and built.”
The upcoming Maruti electric car will be manufactured at the Suzuki Motor Gujarat plant. The new Maruti EV will have more localization due to the upcoming battery plant. Last week, the foundation stone for Suzuki Motor Gujarat EV battery manufacturing plant was laid at Hansalpur in Gujarat.
Even before this Bhargava Statement I have said that the company will hit the roads with its first electric vehicle in 2025. The model will enter the production stage from 2024-25. Keeping the specifications or name under wraps, Bhargava had told TOI that the first electric car from Maruti Suzuki would cost more than Rs 10 lakh, as the EV technology and batteries are expensive. At this price, this car will compete with Tata Nexon EV. He also told that the company has been testing this new EV for a long time.