New Delhi: The Indian auto business is gearing as much as roll out an array of electrical car fashions over the subsequent few years amid a renewed push by govt to encourage environment-friendly mobility options with the disclosing of a brand new coverage.
Mass market gamers like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new fashions to cater to demand throughout segments.
Mahindra & Mahindra CEO automotive sector Nalinikanth Gollagunta mentioned that beginning Jan 2025, the corporate will probably be rolling out 5 new battery electrical autos within the coming years. “We count on 20-30% of our portfolio to be electrical by 2027,” he famous.
Maruti Suzuki India govt officer (company affairs) Rahul Bharti mentioned the auto main is making critical investments in EVs. “We are going to begin manufacturing of a high-spec EV designed-fresh as an EV with 550 km vary in FY24-25 and could have about six EV fashions within the subsequent 7-8 years,” he mentioned.
Hyundai Motor India COO Tarun Garg famous that as per a number of business estimates, EVs are projected to contribute round 20% of India’s automotive market by 2030. Hyundai plans to take a position round Rs 26,000 crore over 10 years in Tamil Nadu. This funding will even embody establishing a battery meeting plant within the state.
A Tata Motors spokesperson mentioned that the corporate goals to have 10 EVs by 2026. The corporate plans to introduce 4 extra EV fashions this 12 months, together with Curvv EV and Harrier EV.
Luxurious carmakers are additionally gearing as much as improve their EV lineup. “We’re invested available in the market, having an aggressive product technique with greater than 12 new merchandise deliberate for debut in 2024,” a Merc India spokesperson mentioned.companies
