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Maruti Suzuki Promises To Be A Leader In A New And Exciting Segment
Maruti To Be Leader In Electric Car Segment.
India's largest carmaker Maruti Suzuki announced it's quarterly earnings posting a marginal increase in net profit and beat market expectations.
In a significant move, the Indo-Japanese company said that it would start manufacturing electric cars, as the Indian government pushes for an environment-friendly alternative to petrol and diesel vehicles. The company also emphasized that it will be the market leader in the electric car segment as well.
"We will make electric cars. We intend to be leaders in the segment as well," chairman R.C. Bhargava said at a press conference where the company announced its quarterly earnings.
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However, Mr. Bhargava didn't specify a timeline by when the company will start manufacturing electric cars in India. Maruti Suzuki's parent company Suzuki is yet to push development of electric cars aggressively; however, Maruti will benefit from the partnership between Suzuki Motor Corp. and Toyota Motor Corp.
Both the Japanese companies are looking to take advantage of emerging trends in the automobile industry like the push towards green technologies and autonomous driving. The Indian government has an ambitious plan of having an all-electric fleet by 2030.
The move to the all-electric fleet will certainly disrupt the current industry ecosystem. The government has informed the automobile industry to stop producing pollution emitting petrol and diesel cars in the effort to reduce the country's carbon imprint in the environment.
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Maruti Suzuki is India's largest carmaker, and it is attributed to its clear understanding of Indian buyers requirements. We expect Maruti to be aggressive in its foray into the electric car segment to offer some of the best products for the Indian car buyers.
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