A Japanese news outlet has reported that Suzuki plans to begin its foray into the EV space starting with the Indian market by 2025. This points to a Maruti Suzuki EV launching in the country by this time. This EV is also reported to be aggressively priced, with Suzuki target a sub JPY 1.5 million price tag after subsidies, which amounts to Rs 10 lakh. This sub-10 lakh Maruti Suzuki EV will be a compact car, so either a hatchback or a mini-SUV can be expected. This vehicle should be co-developed by Toyota and may spawn a Toyota derivative as well.

This is in continuation of the two firm’s alliance globally and in India  through which technologies and products are being shared. The report also reveals that Suzuki is working on setting up a battery manufacturing plant in India in collaboration with Denso and Toshiba, initially to supply battery packs for its hybrid models.

If Suzuki does meet these targets, this could be a major step in making BEVs a viable alternative to the cost-effective cars it sells in the country. Experts suggest price parity between EVs and ICE engined cars is expected to be reached around 2025 too, which should help Maruti Suzuki price its EV aggressively. A sub-Rs 10 price point will also allow EVs to fully capitalize on the steady stream of subsidies being announced by both state and central governments. This development follows Tata Motor’s announcement that it plant to launch 10 new EVs by 2025, at least some of which will be priced on par with the Suzuki offering. Mahindra is also set to begin a steady stream of EV launches starting next year.