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Maruti Suzuki India Plans First EV Launch In 2025: Report

Suzuki Motor Corp (OTC: SZKMF) India unit, Maruti Suzuki India Ltd, is planning to launch its first electric car in 2025.
byShivani Kumaresan
January 11, 2023
1 minute read
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  • 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.
 
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