EV foray to keep Maruti ahead in the race

The company is well-equipped to counter competition

The Maruti Suzuki stock hit a new 52-week high after the company’s Japanese parent, Suzuki, on Friday formally unveiled plans to introduce electric vehicles (EVs) in India by 2020 with technical support from Toyota. Currently under an agreement with the parent, Maruti already sources gasoline/diesel cars produced by Suzuki in India. The pact means Suzuki will manufacture the EVs in collaboration with Toyota (to be sold by Maruti) and also develop the entire EV ecosystem, including charging stations, here. The latter is crucial and will give Maruti a head start as well as a competitive edge over peers.
 

Though Suzuki