India's automotive sector is going through a major transformation with the the introduction of numerous electric vehicles (EVs). This transformation is driven by a recent government policy that focuses on encouraging eco-friendly mobility solutions. As a result, major players in the auto industry such as Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, and luxury car manufacturers are gearing up to introduce a range of new electric models to cater to diverse customer segments.
Mahindra & Mahindra's EV Plans
Nalinikant Golagunta, CEO of Mahindra & Mahindra's Automotive Sector, announced that the company will unveil five new battery electric vehicles starting from January 2025. Golagunta stated, "We expect that 20-30% of our portfolio will be electric by 2027," highlighting the company's strategic focus on electric mobility.
Maruti Suzuki's EV Production Targets
Rahul Bharti, Executive Officer (Corporate Affairs) at Maruti Suzuki India, emphasized the auto industry's significant investments in EVs. Bharti revealed plans to commence EV production with models boasting a range of 550 kilometers in the fiscal year 2024-25. Maruti Suzuki aims to introduce approximately six EV models over the next 7-8 years, reflecting a strong commitment to electric vehicle technology.
Hyundai's Investment in EVs and Infrastructure
Tarun Garg, COO of Hyundai Motor India, shared insights into the company's vision for EVs in India. Garg cited industry estimates projecting EVs to contribute around 20% of the Indian automotive market by 2030. Hyundai plans to invest approximately Rs 26,000 crore in Tamil Nadu over the next decade, including the establishment of a battery assembly plant in the state, underlining its long-term commitment to sustainable mobility solutions.
Tata Motors' EV Expansion Strategy
A spokesperson for Tata Motors outlined the company's ambitious plans to introduce 10 EVs by 2026. Tata Motors is set to launch four new EV models this year, including the Curve EV and Harrier EV, signaling a robust push towards electrification across its product lineup.
Luxury Car Manufacturers Joining the EV Bandwagon
Even luxury car manufacturers are embracing the electric revolution. A spokesperson from Mercedes India revealed plans to introduce more than 12 new products in 2024, with three of them being EVs. This strategic move underscores the growing importance of electric mobility in all segments of the automotive market.
The surge in electric vehicle launches by major auto manufacturers reflects a paradigm shift towards sustainable and eco-friendly transportation solutions in India.
