Maruti Suzuki to launch its first EV in January, to boast 500 km range

Market leader Maruti Suzuki, set to be among the last to enter the EV market in India, said it will be unveiling its first EV, a midsize SUV with a range of 500 km per charge, at the upcoming Bharat Mobility Global Expo in January.

The date of launch and range were confirmed by Partho Banerjee, head of marketing and sales, on the sidelines of the annual convention of the Society of Indian Automobile Manufacturers (SIAM) in Delhi.

The model, likely to be called eVX, is expected to be priced above Rs 15 lakh and will go up against the Tata Curve.ev, the upcoming Hyundai Creta EV and Mahindra & Mahindra’s Born EV lineup. Speaking at the same event, Maruti Suzuki MD & CEO Hisashi Takeuchi said the company will export EVs from India to international markets including Europe and Japan.

Maruti Suzuki, despite being the market leader by a long distance, has been late to the EV game, currently dominated by smaller rival Tata Motors. Banerjee said the company has already done "some basic research" for EVs, and identified customer pain points.

"We are going to provide a complete ecosystem for the customers and solve for range anxiety, [lack of] EV infrastructure and residual value of EVs,” he said.

Range anxiety has been playing on the minds of many who have been considering an EV as their next model as EV batteries typically run out after 300 km or so -- depending on traffic conditions.

On the need for more public charging points, Banerjee said research has found that 95% of the consumers who have electric vehicle are charging at home.

“Despite that, I think it is very important that the customer be given that peace of mind when he is traveling. When someone is stuck in a jam, and during temperature spikes, the range drops drastically in an EV vehicle. We are going to come with a holistic program to develop the ecosystem,” he said, without giving further details.

The company will also look at ways to address the second major concern worrying prospective EV buyers -- low resale value -- and could go for a buyback program.

“Anytime any new technology or product comes, initially there are always some early adopters. We feel that if we are able to address all these concerns, growth will be sustainable. We want to be a major player in the EV segment," he said, adding that the company will remain technologically agnostic. "It is for the customer to decide what technology he would like to prefer.”

On whether the company will have a separate chain of outlets for EVs, Banerjee said it is yet to take a call on such issues.