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Maruti to invest ₹45,000 cr to double capacity by FY31
Mint Mumbai
|August 30, 2023
Though it lags peers in EV launches, Maruti will drive growth with hybrid and CNG vehicles
While Maruti Suzuki is trailing some rivals in launching electric vehicle (EV) models, the largest car manufacturer’s strength lies in advanced technologies such as hybrids, vehicles fuelled by ethanol and compressed natural gas (CNG), chairman R.C. Bhargava said on Tuesday.
“We are behind some companies in launching EVs, but that does not mean that we are late in the market, or that when we are coming in FY25, we will have in any way damaged our ability to get an adequate market share," Bhargava told shareholders during Maruti Suzuki’s 42nd annual general meeting.
Japan’s Suzuki Motor Co., the parent firm, plans to launch six battery electric vehicles in India by 2030, with the segment accounting for 15% of Maruti Suzuki’s India sales by the end of 2030.
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