Maruti Suzuki’s Chairman, RC Bhargava, unveiled Japanese auto giant Suzuki’s plans to develop smaller hybrid cars promising better mileage. Post Maruti’s Q4 earnings announcement, Bhargava highlighted the high costs associated with current hybrid technology, making cars expensive.
Expressing intentions for cost-effective hybrid solutions, Bhargava revealed Suzuki Japan’s efforts in advancing smaller hybrid car technology. He emphasised potential affordability with reduced GST on hybrids, envisioning small cars with superior mileage.
Bhargava noted the disparity in tax rates between electric vehicles (EVs) and hybrids, urging for GST revisions. Union Minister Nitin Gadkari’s proposal to decrease GST on hybrids may reshape the market dynamics.
While Maruti Suzuki gears up for its first electric vehicle launch in FY 2025-26, the company remains cautious about immediate plug-in hybrid (PHEV) plans for India.
Anticipating a shift towards greener vehicles, Maruti Suzuki aims for a diversified portfolio by FY 2030-31, including hybrid electric and battery electric vehicles. The company targets 600,000 CNG car sales this fiscal year, with plans to explore CNG-powered manufacturing plants.
Maruti Suzuki’s Q4 earnings soared, with a 47% increase in net earnings to INR 3,952 crore, reflecting robust performance amidst evolving market demands.
