Fuelled by policy push, auto firms line up new EV models
Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models, while luxury automobile firms are not far behind to surf the wave.
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NEW DELHI: The auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy.
Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models, while luxury automobile firms are not far behind to surf the wave.
Mahindra & Mahindra CEO Automotive Sector Nalinikanth Gollagunta told PTI that starting January 2025, the company will roll out five new battery electric vehicles in the coming years.
“The launch of these SUVs is part of Mahindra’s broader strategy to lead in the electric vehicle sector, and we expect 20-30 per cent of our portfolio to be electric by 2027,” he noted.
Maruti Suzuki India Executive Officer (Corporate Affairs) Rahul Bharti said the auto major would start production of a high-spec EV designed-fresh as an EV with 550 km range in FY24-25. “[We] will have about six EV models in the next 7-8 years,” he said.
Hyundai Motor India COO Tarun Garg said the automaker was planning to invest around Rs 26,000 crore over 10 years in Tamil Nadu. This investment will also include setting up a battery assembly plant in the State.
A Tata Motors spokesperson said that the company aims to have 10 EVs by 2026, which includes four more EV models this year, including Curvv EV and Harrier EV.
Luxury carmakers are also gearing up to enhance their EV lineup. A Mercedes-Benz India spokesperson said the company had an aggressive product strategy with more than 12 new products planned for debut in 2024, of which three will be new EVs.
