Maruti Suzuki intends to be leader in Electric Vehicle segment

Suzuki announced that its lithium-ion battery manufacturing JV with Toshiba and Denso

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NEW DELHI:  “We will make electric cars. We intend to be leaders in the segment as well,” Maruti Suzuki India Chairman R.C. Bhargava said at a press conference where the company announced its quarterly earnings.

R.C. Bhargava, Chairman, Maruti Suzuki India on Friday said there was still no clear roadmap on how the government aims to achieve its target of going all electric by 2030, as a lot depends on it. Sales of EVs in India remain negligible due to the high cost of batteries which make the vehicles expensive and out of reach for many buyers.

Bhargava said, “We will make electric vehicles, but won’t be able to give a definite timeline on when it will happen.”

When asked whether Maruti has the technology to develop batteries for EVs, Bhargava said, “Maruti is a Suzuki’s partner in India. So when we plan to move forward on this, we will source the technology from them. We are very clear on that front.”

In September this year, Suzuki announced that its lithium-ion battery manufacturing JV with Toshiba and Denso will invest Rs 1151 crore to set up its production facilities. The batteries developed from this JV will be used in the Maruti Suzuki models.

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