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Maruti Suzuki India's Chairman, RC Bhargava, has revealed plans for the mass production of electric vehicles (EVs) beginning in FY26. The majority of the first batch will be exported to Europe, with the domestic market receiving electric cars from Maruti only after April 2025.
Maruti Suzuki's electric vehicle variants are unlikely to hit the market till the very end of FY25, said the chairman.
Maruti Suzuki's RC Bhargava expects small car market revival in two years post two-wheeler recovery, with EV production planned for European exports. Bhargava further says: "Maruti has avoided trying to give any kind of guidance on margins or profitability or any such thing. All I can say is that I am optimistic. The conditions in India are going to be favourable"
The company said it expects SUVs to remain the dominant category in the Indian market, adding that it will continue to launch new vehicles in the segment to strengthen its market share. However, small car sales, once its bread and butter, are unlikely to revive in the next two years, it said.
Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases.