Auto players line up new EVs amid fresh government push

Mar24,2024


New Delhi: The Indian auto industry is preparing to produce a series of electric vehicle models in the next few years amid a renewed effort by the government to encourage eco-friendly mobility solutions with the unveiling of a new policy.
mass market players prefer Maruti Suzuki, HyundaiMahindra & Mahindra and Tata Motors are introducing new models to meet the demand across sectors.
Mahindra & Mahindra CEO Automotive Sector Nalinikant Golagunta said the company will introduce five new battery electric vehicles in the coming years, starting from January 2025. “We expect 20-30% of our portfolio to be electric by 2027,” he said.
Rahul Bharti, executive officer (corporate affairs), Maruti Suzuki India, said the auto major is making serious investments in EVs. “We will start production of high-spec EVs designed as EVs with 550 km range in FY 2024-25 and have around six EV models in the next 7-8 years,” he said.

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Hyundai Motor India COO Tarun Garg said that according to several industry estimates, EVs are projected to contribute about 20% of India's automotive market by 2030. Hyundai plans to invest around Rs 26,000 crore in Tamil Nadu over 10 years. This investment will also include setting up a battery assembly plant in the state.
A Tata Motors spokesperson said that the company aims to introduce 10 EVs by 2026. The company plans to introduce four more EV models this year, including the Curve EV and Harrier EV.
Luxury carmakers are also gearing up to expand their EV lineups. “We have invested in the market, building an aggressive product strategy with the launch of more than 12 new products in 2024,” a Merck India spokesperson said. Agencies



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