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Maruti Suzuki Joins EV Race With eVitara
23 Feb
Summary
- Maruti Suzuki launches its first electric passenger vehicle, the eVitara.
- The eVitara is priced competitively, near its strong-hybrid counterpart.
- EV penetration softened after GST rate reductions for ICE vehicles.
Maruti Suzuki has finally joined the electric vehicle (EV) bandwagon, launching its first electric passenger vehicle, the eVitara. This significant entry into the burgeoning EV market follows earlier initiatives by competitors like Tata Motors and Mahindra. The company has announced highly competitive pricing for the eVitara, positioning it very close to the price point of its strong-hybrid models, such as the Grand Vitara.
This launch occurs against a backdrop of softening EV penetration across various segments in India, including cars, two-wheelers, and three-wheelers. The slowdown is partly attributed to reduced Goods and Services Tax (GST) rates for internal combustion engine (ICE) vehicles, making traditional fuel-powered cars more attractive to consumers.
After six months of exporting the eVitara from India, Maruti Suzuki's domestic launch signifies a strategic shift. The company's hesitant approach and subsequent entry highlight the evolving dynamics of India's automotive industry and the growing importance of electric mobility.
