E-Vitara Launch Revs Up View on Maruti Stock

The SUV will drive the firm's exports, brokerages say

- NIKITA VASHISHT

Maruti Suzuki India's first all-electric sports utility vehicle (SUV), the e-Vitara, has drawn a positive response from analysts.

While the launch marks the company's big-bang entry into the electric-vehicle (EV) segment, concerns around pricing and stiff competition are keeping expectations in check, they said.

Earlier this week, the firm flagged off the production of the e-Vitara at its Gujarat plant.

The company's stock on the BSE hit a record high of ₹14,940.6 on August 28, and has risen 2.2 per cent since the launch on August 26. By comparison, the BSE Sensex has slipped 2.2 per cent during the period.

EV debut

The SUV, which will also be India's most mass-produced and exported EV, will initially target global markets including Germany, the Netherlands, Sweden, Denmark, Norway, and Austria. The model has been introduced in the United Kingdom, with a wider European rollout planned in the coming months.