‘Did not want to put all our eggs in one basket’: Maruti’s RC Bhargava on firm’s ‘slow’ EV play

Addressing concerns about the pace of its electric vehicle production, Maruti Suzuki India (MSIL) Chairman RC Bhargava emphasized on the need for diverse automotive technologies to replace petrol and diesel cars in India.

“Some believe that our company has been slow to manufacture electric vehicles. We decided to adopt a more diversified approach to meeting national objectives and did not want to put all our eggs in one basket. The government has also accepted that in India there is a need to use different technologies,” Bhargava said while releasing MSIL’s annual report.

Bhargava pointed out that pure petrol and diesel cars are the worst offenders in terms of carbon emissions and fuel consumption. He advocated for the increased use of strong hybrid technology, CNG, ethanol, and biogas vehicles, which offer better fuel efficiency and lower emissions.

Amidst most automakers exiting the budget car market, Bhargava pledged to stay committed to budget-conscious buyers.

“Even as we produce more SUVs and higher-cost cars to cater to a different market segment, we will never forget the needs of the large numbers who cannot afford expensive cars,” Bhargava said.

As MSIL transitions to Maruti 3.0, Bhargava stressed on the critical role of technology development. While Suzuki is advancing its own R&D, MSIL is bolstering its capabilities in conventional technologies.

“Our engineering manpower has now grown to about 2,500. The Rohtak facility is fully functional. We are also urging our vendors to enhance their engineering capabilities, reduce import dependence, and accelerate exports,” he stated.

He praised the Uttar Pradesh government’s recent incentives for strong hybrid vehicles, hoping it would encourage the shift from petrol and diesel cars to more sustainable options. Hisashi Takeuchi, Managing Director and CEO of MSIL, reiterated the company’s commitment to India’s net-zero emissions goal by 2070. He said MSIL, with support from Suzuki Motor Corporation (SMC, Japan), is working on various powertrain technologies, including battery electric vehicles, strong hybrids, biofuels such as ethanol and compressed biogas, and CNG, to reduce the overall carbon footprint.

The company will invest ₹165 crore in corporate social responsibility (CSR) activities this fiscal year, reflecting its commitment to social and environmental responsibilities.