Maruti Suzuki India Limited (MSIL) Chairman R. C Bhargava has said that rather than electric, CNG is a preferred clean fuel suitable for Indian small car market.
Sharing his views on the eve of inauguration of two key projects in Gujarat, its electric vehicle (EV) battery manufacturing facility at Hansalpur and a vehicle manufacturing facility in Kharkhoda, Haryana, Bhargava said " India has two distinct market segments the Bharat Market for small cars and the India Market for SUVs, electric and hybrid cars"
Bhargava speaking about the domestic small car market has said " India has 230 million two-wheeler users and they all are looking to graduate to four wheeler comfort. However the recent government regulations and geopolitical issues, input price hikes and inflation have pushed the prices of small cars out of reach for the common man"
Policymakers and industry need to recognize that there is a 'Bharat market' and an 'India market' and that it is the Bharat market that will feed the India market.
Maruti Suzuki that plans to introduce their first EV 2025 is betting big on hybrids and ethanol. Maruti Chairman has made an appeal to the Governmennt to reduce the taxes on Hybrids which are taxed at 43 per cent and bring them on par with EVs taxed at 5 per cent including GST.
MSIL is currently banking on its alliance with Toyota to maintain their leadership in the Indian manufacturing landscape. MSIL's market share that once stood at 50% has got now narrowed down to 43& basis lack of aggressive presence in the SUV space, that now the company has made up with the entry of the Brezza and Grand Vitara.
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