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Maruti Suzuki India Plans First EV Launch In 2025: Report

Author: Shivani Kumaresan | January 11, 2023 07:28am

Suzuki Motor Corp (OTC:SZKMF) India unit, Maruti Suzuki India Ltd, is planning to launch its first electric car in 2025.
The mid-sized electric sports utility vehicle, named, eVX (Emotional Versatile Cruiser) will be produced in the state of Gujarat, Bloomberg reported.
The move is considered India’s biggest automaker’s attempt to recover the ceded ground to rival South Korea’s Hyundai Motor Co. (OTC:HYMTF).
“Given the power supply situation, electric vehicles alone can’t be the solution in India,” the report cited Suzuki Motor President Toshihiro Suzuki.
The company has lagged behind local brands, including Tata Motors Ltd and Mahindra & Mahindra Ltd, in launching electic vehicles.
Price Action: HYMTF shares closed at $31.55 on Tuesday.

Posted In: HYMTF SZKMF