Maruti Suzuki Plans Phased Localisation of EV Parts; Targets 5 Electric Models by FY30

Maruti Suzuki India plans to gradually localise battery production and other key electric vehicle components over the next few years. This move is part of the company’s broader strategy to strengthen India’s EV ecosystem and build customer confidence.

At present, the company imports EV batteries but has a clear roadmap to shift towards localisation in a phased manner.

First EV Launch and Product Strategy

Maruti Suzuki is set to launch its first electric vehicle, the e-VITARA, in the domestic market next year. By FY30, the company aims to have 5 electric models across different body styles in its overall product portfolio.

The automaker has already started exporting the e-VITARA and has shipped around 10,000 units to 26 international markets.

Why EV Adoption Is Still Slow in India

According to the company, EV adoption in India remains limited as many buyers are not confident about using electric vehicles as their primary car. Concerns around driving range, limited public charging infrastructure, after-sales service and resale value continue to hold back demand.

Most current EV buyers in India still use electric vehicles as a second car rather than their main vehicle.

Charging Infrastructure and Service Network

To address these concerns, Maruti Suzuki plans to strengthen the EV ecosystem. The company will have around 1,500 EV-ready workshops across 1,100 cities and has already installed 2,000 charging points.

By 2030, Maruti aims to set up nearly 1 lakh charging stations across the country in partnership with dealers and charging service providers.

Focus on Customer Confidence and Resale Value

To improve buyer confidence, Maruti Suzuki plans to introduce assured buyback and subscription schemes for its electric vehicles. The company believes a strong product, reliable after-sales service and a well-developed ecosystem are key to faster EV adoption.

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EV Market Outlook

Maruti Suzuki estimates that by FY30, India’s passenger vehicle market could reach 5.5–6 million units, with EV penetration at around 13–15%. However, the company plans to reassess this outlook next year, especially in light of recent changes under GST 2.0.

Maruti Suzuki India Share Price Movement

Maruti Suzuki India share price (NSE: MARUTI) was trading at ₹16,430 on the NSE on December 15 at 1:33 pm, down ₹92 or 0.56% for the day. The stock opened at ₹16,500 and moved between a high of ₹16,500 and a low of ₹16,360 during the session. The company has a market capitalisation of about ₹5.17 lakh crore and is trading at a P/E ratio of 34.95. Maruti Suzuki’s 52-week high stands at ₹16,660, while the 52-week low is ₹10,725. The stock offers a dividend yield of 0.82%, with a quarterly dividend amount of ₹33.68.

Conclusion

Maruti Suzuki is taking a cautious but long-term approach to electric mobility by focusing on localisation, infrastructure development and customer confidence. With multiple EV launches planned and a strong push on charging and service support, the company aims to become a leading player in India’s growing EV market.

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