Suzuki, Toyoto plan E-vehicles in India

The company is already in the process of setting up a battery manufacturing unit at its Gujarat plant for electric and hybrid cars by 2020, under a joint venture with Toshiba, Denso

Suzuki Motor Corp plans to introduce electric vehicles in India around 2020, in a cooperative structure with Toyota Motor Corp, the parent company of Maruti Suzuki (India) Ltd said in a statement on Friday. Suzuki Motor Corp will take technical support from Toyota Motor and will also supply some electric vehicles to the latter, it said.

The company is already in the process of setting up a battery manufacturing unit at its Gujarat plant for electric and hybrid cars by 2020, under a joint venture with Toshiba and Denso.

Suzuki Motor Corp's subsidiary, Maruti Suzuki, commands 44% market share in the passenger vehicle segment, as per Apr-Oct sales figures from the Society of Indian Automobile Manufacturers.

At the company's annual general meeting in September, Maruti Suzuki chairman R.C. Bhargava had said that the company would not "hold back" in introducing electric vehicles as soon as it determines that customers are ready to buy them, reports IANS.

The decision towards electric mobility from the automobile giant comes at a time when the government has been aggressively pushing the idea of complete electrification of vehicles by 2030.

Automobile makers, such as Tata Motors Ltd and Mahindra & Mahindra Ltd are already in the process of supplying 10,000 electric vehicles to state-run Energy Efficiency Services Ltd.

At 1520 IST, shares of Maruti Suzuki were up 2.3% at 8,353 rupees on the National Stock Exchange.