Maruti Suzuki Plots 6 EVs By 2030; Massive Investment Earmarked For Expansion
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Highlights
- Six new electric cars to be launched across several segments by 2030
- New Kharkhoda facility in Haryana will start by 2025; annual capacity of 10 lakh cars
- Rs 2.8 lakh crore to be invested globally with a sizeable sum earmarked for India
Maruti Suzuki is no stranger to large volumes and massive expansion plans in India. Keeping up with its reputation, Suzuki, the parent company will globally spend Rs 2.8 lakh crore till 2030, a sizeable chunk of which has been earmarked for the Indian market.
Investments will be made to expand production facilities and launch new products. For the former, Maruti has confirmed the Kharkhoda plant in Haryana is on its way to completion. It will be operational by 2025 and will have a production capacity of 2.5 lakh units. Once it is fully operational, the plant will be able to produce 10 lakh vehicles annually.
As for the new products, Maruti has confirmed the launch of six new electric cars across various segments by 2030. It expects EVs to make up at least 15 percent of its total sales. The first battery-powered car will be the production version of the eVX concept that was showcased at the Auto Expo 2023. The remaining EVs are also likely to be compact vehicles, with the teaser previewing a variety of silhouettes, hinting at potential directions for the upcoming models.
The planned sales ratio has 25 percent of hybrids and 60 percent of combustion engine vehicles. That said, the combustion engine vehicles will also include those running on CNG, biogas and ethanol flex-fuel. These units should have lower emissions than regular petrol engines. Maruti currently has the largest lineup of CNG-powered cars in India. Even premium Nexa models such as the Baleno and Grand Vitara get a CNG option.
Also Read: Maruti Suzuki Invicto vs Toyota Innova Hycross: Differences Explained
Last Updated on July 7, 2023
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