Suzuki tolaunch 1st EV model in India by2025
TOKYO: Suzuki Motor Corp will enter the electric vehicle (EV) market by 2025 starting in its stronghold market India, Nikkei reported on Monday.
The automaker plans an allelectric compact model to be made available for around 1.5 million yen ($13,626) after government subsidies are taken into account, the Nikkei said.
“We have been saying that we will enter EV and strong hybrid cars in India by 2025,” a Suzuki spokesperson said, but added that the company has not announced any price or whether it will launch EVS in India first.
According to the Nikkei report, the EV will first be launched in India and then followed to other markets, including its home market Japan and Europe. Despite being one of the largest car markets in the world, the shift to EVS in India is not too drastic. While electric two- and three-wheelers are catching on, factors like high prices and range anxiety in electric cars stunt EV growth here. A small affordable electric car could be an answer.
Earlier this month, a test mule of an electric Suzuki was spotted in India without any camouflage. The automaker had been testing the Japanese market Wagon R Electric Kei car during the development phase which was seen on the roads on multiple occasions. But now a new car based on the current-generation India-spec Wagon R has been seen with a new design.
Maruti Suzuki sells the most cars in India compared to all car brands available and most of these sales are dominated by the compact car segment that includes Alto, Baleno and Swift.
RCF lenders okay debt-resolution plan with Authum
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Govt’s excise mopup jumps 88% to ₹3.35 lakh crore
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Zomato chief Goyal joins Magicpin board
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Capital India set to infuse $25 million in Credenc
MUMBAI: Capital Indian Finance Ltd on Monday announced that it will infuse $25 million (around ₹187 crore), including both equity and debt, into education loans-focused fintech Credenc.