Maruti Suzuki plans to launch one new EV every year until 2031; the first EV, based on the eVX concept, will debut in January 2025
Following the good reception for its range of SUVs, Maruti Suzuki is planning to introduce one new zero-emission vehicle every year. At the second edition of the Bharat Mobility Global Expo in January 2025, the production version of the eVX electric SUV will make its global debut and it will go on sale soon after as part of the brand’s plans to launch six EVs by 2031.
The largest car producer in the country reported a 47 per cent increase in net profit, reaching Rs. 3,650 crore in the first quarter of FY25. This surge is attributed to several factors including gains in foreign exchange. Compared to the same period last fiscal, Maruti Suzuki registered a net profit of Rs. 2,485 crore – a significant profit boost.
Maruti Suzuki recorded a 5 per cent rise in vehicle sales for the first quarter, totalling 5,21,868 units compared to the previous fiscal year. In Q1 FY25 alone, domestic sales reached 4,51,308 units, reflecting a 4 per cent increase year-on-year. The company has observed that rural markets continue to surpass urban areas in sales, a trend that has been ongoing for an extended period.
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The string of new launches over the last three years and the expanded CNG range have helped catapult its volume sales. While the sales numbers of entry-level hatchbacks have been affected, the increased presence in the SUV space has aided Maruti Suzuki in garnering more customers in the compact and midsize SUV segments.
In the June quarter, one in every three cars sold domestically was a CNG vehicle and Maruti Suzuki is on track to meet its target of 6 lakh vehicle sales for the fiscal year. The company has boosted CNG vehicle supplies and ramped up production of the Ertiga CNG, a highly sought-after model. Notably, for the first time in India, overall CNG passenger vehicle sales in Q1 FY25 surpassed those of diesel vehicles.
Also Read: Maruti Suzuki Grand Vitara Is The Fastest Midsize SUV To Reach 2 Lakh Sales
MSIL’s Executive Director of Corporate Affairs Rahul Bharti confirmed during an investor’s meet last Wednesday that the brand’s first EV will be displayed at the Bharat Mobility Show in January 2025 and we expect it to be in its production form ahead of the market launch.