In addition, Maruti Suzuki will also achieve its overseas sales target of 800,000 vehicles in this fiscal year, which is a triple increase compared to the past.

Bhargava, chairman of Maruti Suzuki, said in a shareholder address that domestic demand combined with export demand made the company feel the need to add another 2 million vehicles to build a car factory in northern India with an annual production capacity of 1 million vehicles.

As for the electrification transformation, the company said that the current production at the factory in Gujarat, western India, is progressing smoothly. It is expected that the first pure electric model will be sold in 2024-2025, and it is expected to have 6 pure electric models in 2030-2031.

It was previously reported that the CEO of Maruti Suzuki proposed to the Indian government in July last year, hoping to express support for “green” vehicle technologies other than electric vehicles-hybrid, because “this is beneficial to the entire country”.

Earlier, Maruti Suzuki launched its first “powerful” hybrid vehicle in India, the Grand Vitara SUV, which is expected to help the company regain market share lost to rivals such as Hyundai Motor and Kia Motors. India has a tax rate of up to 43% on hybrid cars, compared with just 5% on pure electric vehicles.

However, this situation has changed slightly by 2023. As of the first half of this year, the country’s tax rate on hybrid vehicles has reached 29%, and the tax rate on pure electric vehicles is still 5%.

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India levies a tax rate of up to 43% on hybrid vehicles, while the tax rate on pure electric vehicles is only 5%. Electric cars also benefit from the billions of dollars in subsidies India provides to domestic companies that produce electric vehicles.

Asked how talks with the government on lowering the tax rate on hybrid cars were progressing, Maruti Suzuki CEO Shushi Takeuchi said he thought the government would provide support.

There is nothing wrong with the government supporting the development of electric vehicle technology, but it would be better if it supported more clean technologies,” he said on Wednesday. I believe the government will support all good technologies and contribute to building a better future.”

Maruti Suzuki has said it will not launch an all-electric model until 2025. Even then, the decarbonization plan will cover other clean technologies such as compressed natural gas (CNG), biofuels, flex-fuel and hybrid vehicles, according to Shushi Takeuchi.

The Grand Vitara, unveiled Wednesday by Maruti Suzuki, is the first hybrid model developed by its parent company Suzuki in collaboration with Toyota Motor, and it will be produced at Toyota’s Indian plant.

The Grand Vitara’s powerful hybrid powertrain comes from Toyota and can drive nearly 28 kilometers per liter of gasoline. the Grand Vitara will also be equipped with Suzuki’s hybrid technology, which can support about 21 kilometers per liter of gasoline.

Maruti Suzuki will export the car to countries in Africa, South America and the Middle East, said Shushi Takeuchi. With the launch of the Grand Vitara in September, Maruti enters the SUV market, which accounts for one-fifth of India’s car sales.

Souchi Takeuchi said he hopes to recapture more market share as Maruti Suzuki launches more models in the fast-growing SUV market. Its market share drops to 43 percent in the fiscal year ending March 31, 2022, compared with 51 percent in March 2019. (Little)

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