- Maruti Suzuki, under Chairman RC Bhargava, postpones the launch of electric vehicles (EVs) in India, with mass production set for FY26.
- Concerns over global EV sales, particularly in China, prompt cautious approach despite heavy investment in EV infrastructure.
- April sales report shows marginal increase in total sales but decline in mini and compact car segments.
Maruti Suzuki, led by Chairman RC Bhargava, has revised its plans for electric vehicle (EV) production in India, opting to delay the launch until after FY25, with mass production expected in FY26. The decision was confirmed during Bhargava’s recent interview with CNBC-TV18. In the initial phase, Maruti Suzuki intends to export the majority of its first batch of EVs to Europe, postponing significant availability in the Indian market until after April 2025. Bhargava also highlighted the ongoing shift from sedans to SUVs in the higher-priced car segments, a trend anticipated to continue.
Despite the delay in EV launch, Maruti Suzuki remains committed to investing in EV infrastructure, with substantial capital expenditures earmarked for new product launches and capacity expansion. However, concerns over the global downturn in EV sales, particularly in China, have prompted a cautious approach. Bhargava emphasized the potential impact of declining EV sales on the overall automotive market, including material prices and demand. Meanwhile, April sales figures for Maruti Suzuki India showed a modest increase in total sales compared to the same period last year. However, there was a noticeable decline in sales within the mini and compact car segments, reflecting shifting consumer preferences and market dynamics.
