Ev Exports News Today

Indian automaker Maruti Suzuki is targeting nearly 3 lakh exports in FY25, focusing on improving its portfolio abroad. With 283,067 units exported, the company has been Indias top passenger car exporter for the third consecutive year. The company has also manufactured over 3 crore automobiles in India. Supporting factors for this outlook include better products, improved portfolio in foreign nations, and talent transfer.

Automobile Exports FY24: “The decline is owing to the ongoing geopolitical issues including the Russia-Ukraine and Israel-Gaza conflicts and some countries where we are very strong in two wheeler and commercial vehicle exports are facing foreign exchange (forex) issues,” Vinod Aggarwal, President, Society of Indian Automobile Manufacturers (SIAM) told ETAuto.

EV Exports: Stellantis India CEO & MD Aditya Jairaj told PTI that the company will be the first multinational OEM in India to achieve this feat (to export EVs). Stellantis, which was formed after the merger of Italian-American conglomerate Fiat Chrysler Automobiles and French PSA Group, currently sells its Jeep and Citroen brands in India.

Competition in China’s car market is getting even more intense. That means cheaper Chinese electric vehicles. It is also terrible news for China’s competitors abroad.

The country’s factories, lacking customers, are pushing exports harder, raising new trade tensions.

With exports soaring from Rs 7,988.62 lakhs in 2022 to a staggering Rs 21,391.40 lakhs in 2023, Nepal accounts for a significant chunk of the growth. However, June witnessed an unexpected drop of 74.75%.