- Suzuki Motor Corp SZKMF India unit, Maruti Suzuki India Ltd, is planning to launch its first electric car in 2025.
- The mid-sized electric sports utility vehicle, named, eVX (Emotional Versatile Cruiser) will be produced in the state of Gujarat, Bloomberg reported.
- The move is considered India’s biggest automaker’s attempt to recover the ceded ground to rival South Korea’s Hyundai Motor Co. HYMTF.
- “Given the power supply situation, electric vehicles alone can’t be the solution in India,” the report cited Suzuki Motor President Toshihiro Suzuki.
- The company has lagged behind local brands, including Tata Motors Ltd and Mahindra & Mahindra Ltd, in launching electic vehicles.
- Price Action: HYMTF shares closed at $31.55 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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