NEW DELHI: Maruti parent SuzukiBSE 0.83 % has inked a pact with Toyota
Motor and, if things as planned, India would see the first
electric vehicle (EV) from the Maruti stable in less than two years!
That would prove to be a game-changer for the domestic auto industry.
How the EV segment would perform in the initial years
would majorly depend on the price points of these vehicles.
The average cost of a small car in India today stands at $6,00-8,000 (ex-showroom),
while the median cost of a car comes to $10,000. A long-range EV (380km) is expected to cost
about $21,500 while a moderate-range one (190km) could cost $16,000 by 2025,
UBS said in a forecast this past August.
That takes the battery cost at $130/Kwh. At Friday’s rupee-dollar exchange rate,
$16,000 equals roughly Rs 10.40 lakh, the price point at
which entry-level SUVs are selling in the domestic market currently.
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