A new policy unveiled by the government encourages environmentally friendly transportation (electric vehicle) alternatives, and the Indian auto industry is preparing to launch a range of electric vehicle models in the coming years. Players in the mass market, like Mahindra & Mahindra, Maruti Suzuki, Hyundai and Tata Motors is planning new models to meet demand in various market categories.
Nalinikanth Gollagunta, CEO of Mahindra & Mahindra’s Automotive Sector, said PTI that the business will introduce five new battery-electric vehicles in the upcoming years, beginning in January 2025.
These electric SUVs are designed to appeal to a wide spectrum of customers and will be constructed on Mahindra’s cutting-edge INGLO platform. We anticipate that 20–30% of our portfolio will be electric by 2027. The introduction of these SUVs is a part of Mahindra’s larger plan to lead in the electric vehicle market.
Upcoming Electric Vehicles for Green Transportation
The car giant is making significant investments in electric vehicles, according to Rahul Bharti, Executive Officer (Corporate Affairs) of Maruti Suzuki India. “In FY24–25, we will begin production of a high-spec EV that was specifically designed to have a 550 km range. In the following seven to eight years, we will have about six EV models.” One of the first original equipment manufacturers (OEMs) to launch a fully long-range electric SUV in India in 2019 was Hyundai Motor India, according to COO Tarun Garg.
The business unveiled the IONIQ 5, a high-end electric SUV, last year. According to several industry projections, EVs are expected to account for about 20% of India’s car market by 2030, according to Garg.
EVs will soon become commonplace, paving the way for an environmentally friendly automotive future for India, thanks to the government of India’s unwavering focus on electric vehicles and its supportive regulatory framework. Over a ten-year period, the business intends to invest about Rs 26,000 crore in Tamil Nadu. A battery assembly plant will also be established in the state as part of this project.
According to a representative for Tata Motors, the business wants to have 10 EVs by 2026. This year, the business intends to launch four more EV models, including the Curvv EV and Harrier EV. Also preparing to expand their EV lineup in the nation are luxury automakers.
