Maruti Suzuki a leading automaker in India is gearing up to make its mark in the electric vehicle (EV) market with the introduction of its first electric offering, the eVX. Set to hit the Indian market next year this ground-up electric SUV is not just a local endeavor it is destined for international markets as well.
Strategic Collaboration with Toyota
The eVX is the product of Maruti Suzuki and Toyota working together. Toyota in parallel is developing its version of the electric vehicle with plans for it to be available for purchase in 2025.
Local Manufacturing for Competitive Pricing
A key strategy for the eVX is the emphasis on local manufacturing. The batteries and electric motor for the eVX will be produced at Maruti Suzuki’s Gujarat plant and this approach focused on heavy localization aims to achieve an aggressive and competitive price point for the eVX. Rahul Bharti Executive Director of Corporate Affairs at Maruti Suzuki highlighted the importance of not just launching a model with imported components but ensuring local production to build scale. The intention is not only to cater to the domestic market but also to export the eVX model from India.
Pricing Strategy and Market Competition
Despite the commitment to localization, the pricing strategy of the eVX will be closely watched especially in comparison to competitors such as the Tata Nexon EV and MG ZS EV. Additionally, the eVX is expected to face formidable competition from the upcoming Creta EV scheduled for launch around the same time.
Gujarat Plant: Beyond Hybrids to Full EVs
Maruti Suzuki’s Gujarat facility is not limited to producing batteries solely for hybrid vehicles it is gearing up to manufacture batteries for electric vehicles. Already in progress, the export of batteries to other countries is anticipated to reach Rs 1,000 crore by the next year.
Conclusion
With the eVX Maruti Suzuki is demonstrating its commitment to sustainability and meeting the growing demand for electric mobility in the market for electric vehicles and its cooperative strategy with Toyota’s focus on domestic production, and aspirations for foreign exports Maruti Suzuki is positioned to play a significant role in India’s changing electric car market.
2023-11-22 17:33:18
