Suzuki Motor Corp., the parent of India’s largest carmaker, aims to produce as many as 35,000 electric vehicles annually in India starting 2020-21(FY 2021), when it rolls out the first of these cars in the country, two people familiar with the matter said to Livemint.
While rivals such as Mahindra & Mahindra Ltd and Tata Motors Ltd are already manufacturing electric vehicles by sourcing half of the components from overseas vendors, Suzuki plans to set up the full ecosystem, starting with the lithium-ion battery plant, before unit Maruti begins selling the vehicles in India.
If all goes as planned, Suzuki is likely to be the first car maker in India to make electric vehicles with locally sourced components like lithium ion batteries.
Suzuki will source technology from Toyota Motor Corp. and Denso Corp. for the development of a compact and ultra high-efficiency powertrain for India and other global markets. Suzuki also has a tripartite joint venture with Denso and Toshiba to set up a lithium-ion battery factory in Gujarat.
Mahindra’s plans are more ambitious. It plans to produce 60,000 electric vehicles annually starting 2020 as it seeks to benefit from its first-mover advantage. “Our electric vehicles story is poised to take off,” said Pawan Goenka, managing director, Mahindra & Mahindra Ltd, in an interview to Mint on February 6, 2018.
