Maruti Suzuki plans to start exports of EVs this year
- IBEF
- January 12, 2024
Maruti Suzuki India, a frontrunner in the automotive industry, is set to venture into the export of Electric Vehicles (EVs) from India to global markets, with a targeted initiation of exports to countries such as Europe and Japan within the current year. This ambitious move follows the domestic launch of EVs, marking a significant stride for the company in sustainable and environmentally friendly transportation solutions. Executive Director Mr.Rahul Bharti announced this strategic expansion plan at the prestigious Vibrant Gujarat Global Summit, underscoring Maruti Suzuki's commitment to innovation and global market penetration.
In addition to the export of EVs, Maruti Suzuki is poised to make substantial contributions to the international electric mobility landscape by exporting lithium-ion battery cells and modules. In the ongoing fiscal year, Mr. Rahul Bharti projected an export value of approximately US$ 90.4 million (Rs. 750 crore), affirming the company's dedication to advancing clean energy technology. This export initiative is facilitated through the collaboration with Automotive Electronics Power Private Ltd (AEPPL), a joint venture involving esteemed entities like TOSHIBA Corporation, Denso Corporation, and Suzuki Motor Corporation. AEPPL operates a cutting-edge lithium-ion battery plant in Hansalpur, Gujarat, from which Maruti Suzuki sources the essential components for its EVs, reinforcing its commitment to sustainability. As part of its expansion endeavors, Maruti Suzuki recently unveiled plans to invest US$ 4.6 billion (Rs. 38,200 crore), earmarked for the establishment of a second plant in Gujarat and the addition of a fourth line at the Suzuki Motor Gujarat plant. These strategic investments align with the company's vision to lead the domestic market and emerge as a key player in the global electric mobility landscape.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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