With around 10 EVs launched in India this year and the government promoting subsidies as well, it seems EVs are all the rage. But the two carmakers don’t want any part of it right now.
EVs are the flavor of the year 2021. In the last 11 months, we have seen the launch of at least 10 electric vehicles in 2022 and more are in the pipeline. Due to skyrocketing fuel prices, consumers are finally more receptive to the idea. Buying an EV, even though the charging infrastructure is nascent in most cities, is the best. Till now, some of the electric vehicles coming to India were either small hatchbacks with low charging range and performance or expensive plug-in hybrids. This year, most of the electric vehicles launched are in the mid-range (between Rs 10-25 lakh excluding Tata Tiago EV) and across segments including SUVs, compact SUVs and sedans. Even the government has increased its FAME-II subsidy to encourage more individual purchase of EVs. It seems like EVs are now here to stay and every carmaker is jumping on that bandwagon. Except for two carmakers. Who are they? Read on to find out.
maruti suzuki
Photo Credit: Maruti Suzuki
Maruti-Suzuki is in no hurry to enter the EV race against other car makers at the moment. To his credit, he has tested 50 Wagon R EVs. But, its own chairman RC Bhargava has gone on record to say that the company will launch EVs in the country only after 2025. Explaining the decision at its 40th Annual General Meeting, Bhargava said that the current manufacturing cost of electric vehicles is not feasible enough to sell a large number of cars. Moreover, in the current circumstances, many things in the EV ecosystem such as the battery, charging infrastructure and power supply are done by third parties and hence, the cost is not in the hands of the company.
The carmaker’s decision is also partly aided by the fact that the current sales figures for electric vehicles are not impacting Maruti-Suzuki’s sales figures. At present, the company is focusing on providing CNG and hybrid options to its customers in view of the rising petrol prices.
Toyota
Yet another company that has no plans to fully enter the electric vehicle race immediately is Japanese auto giant Toyota. To start with, Toyota invested heavily in hybrid technology as well as hydrogen fuel cells over the years. Although there were not many hybrid cars in India, hybrids like Toyota’s Prius and Camry were popular choices globally and their sales certainly contributed to the spread of green technology. However, after betting too deeply in the hybrid game, Toyota president Akio Toyoda is now concerned about how the switch to EVs will result in job losses for the Japanese car industry. Also, unsure about the future of EVs 5 years ago, Toyota did not invest enough in EVs and hence, is pushing the case for hybrids. It released the Lexus ux300e last year as a rival to the Tesla Model 3, but has made far less noise since then.
kias
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While the South Korean carmaker has plans to enter the segment, it currently does not have any electric vehicles in its portfolio. The company has a plan to bring EVs globally and we have already driven the EV6 exclusively, but there is a slight hesitation to bring it here as the Indian market is not yet mature and there is a need for electric cars in the country. Have a strong foothold.
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