Car-making giant of India, Maruti Suzuki is set to foray into EV Space by launching its first-ever electric car. The company has announced plans to launch its first electric vehicle (EV) within this current financial year.
According to a report of Business Today, in the annual report, the company's Chairman, R C Bhargava emphasized the need for a policy framework that can accelerate the adoption of alternative technologies. The goal is to lessen our reliance on conventional petrol and diesel vehicles.
Bhargava stated that offering cars with various technologies at different price points is the best strategy given India's resources and economic conditions.
Maruti Suzuki is gearing up to roll out electric cars soon. Besides this, Mr. Bhargava also advises car buyers to look at other alternatives such as powerful hybrid technology, CNG, ethanol, and biogas. He stresses the need to move away from petrol and diesel-dependent vehicles.
Strong hybrid vehicles can cut fuel consumption by 35-45 per cent. The implementation of biogas, a green, carbon-negative fuel, can hugely contribute to environmental conservation.
Bhargava is backing the company’s diverse strategy amidst the ongoing debates about hybrid vehicles within the Indian automotive industry. Unlike rivals focusing purely on Battery Electric Vehicles (BEVs), Maruti Suzuki stands firm in its strategy. Regardless of benefits like lesser GST rates and extra incentives that BEVs enjoy, hybrids face the hurdle of higher taxes, making it difficult for them to become commonly accepted.
At present, the car automaker company offers two strong hybrid models—the Grand Vitara SUV and Invicto MPV—and plans to launch its first EV later this year. The company aims to introduce six EV models by FY31, depending on cost reductions and the growth of local charging infrastructure.
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