Maruti Suzuki India chairman RC Bhargava on Sunday said that the company is waiting for a policy framework that encourages all clean technologies to replace petrol and diesel cars with eco-friendly alternatives. In his address to shareholders in the company’s 2023-24 annual report, he said that industrial growth requires stable policies and a predictable work environment.
“Some believe that your 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,” Bhargava said.
Bhargava explained that Maruti Suzuki adopted a diversified approach to meeting national objectives rather than solely focusing on electric vehicles. The company believes that India needs to use different technologies.
“Some states, like UP (Uttar Pradesh), have already taken steps in this direction. We now await a policy framework that would lead to the promotion of all technologies that result in petrol and diesel cars being replaced by cars using other technologies,” he said.
Bhargava also expressed hope that Prime Minister Narendra Modi’s government will continue to focus on infrastructure development, fiscal prudence, inflation control, manufacturing competitiveness, and trust in the private sector during its third term.
Bhargava also said that the company has decided to offer customers cars with different technologies and price levels, considering India’s economic and social environment and available resources.
“We will be introducing electric cars in the next few months. The ability to rapidly expand the acceptance of such cars would depend on the pace of infrastructure development and reduction of the cost of electric cars. This has to largely come from localisation of production and better technology,” MSI chairman said.
Managing Director and CEO H Takeuchi believes that India’s ambitious goal of becoming a developed nation by 2047 presents an opportunity for Maruti Suzuki to deliver the “joy of mobility” to as many Indians as possible. With only 3% of Indians currently owning cars, Takeuchi sees this as his personal mission. In FY 2023-24, India’s passenger vehicle market reached an unprecedented milestone, surpassing the highest-ever annual sales of over 40 lakh units, solidifying its position as the third-largest PV market globally.
“Some believe that your 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,” Bhargava said.
Bhargava explained that Maruti Suzuki adopted a diversified approach to meeting national objectives rather than solely focusing on electric vehicles. The company believes that India needs to use different technologies.
“Some states, like UP (Uttar Pradesh), have already taken steps in this direction. We now await a policy framework that would lead to the promotion of all technologies that result in petrol and diesel cars being replaced by cars using other technologies,” he said.
Bhargava also expressed hope that Prime Minister Narendra Modi’s government will continue to focus on infrastructure development, fiscal prudence, inflation control, manufacturing competitiveness, and trust in the private sector during its third term.
Bhargava also said that the company has decided to offer customers cars with different technologies and price levels, considering India’s economic and social environment and available resources.
“We will be introducing electric cars in the next few months. The ability to rapidly expand the acceptance of such cars would depend on the pace of infrastructure development and reduction of the cost of electric cars. This has to largely come from localisation of production and better technology,” MSI chairman said.
Managing Director and CEO H Takeuchi believes that India’s ambitious goal of becoming a developed nation by 2047 presents an opportunity for Maruti Suzuki to deliver the “joy of mobility” to as many Indians as possible. With only 3% of Indians currently owning cars, Takeuchi sees this as his personal mission. In FY 2023-24, India’s passenger vehicle market reached an unprecedented milestone, surpassing the highest-ever annual sales of over 40 lakh units, solidifying its position as the third-largest PV market globally.
