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Kumar Satyam

28th Aug · SEBI-Registered Analyst

Maruti Suzuki’s EV Playbook: e-Vitara Goes Global First

Maruti Suzuki has taken its first bold step into electric vehicles with the e-Vitara, a mid-sized electric SUV now rolling off the line at its Gujarat plant — flagged off by PM Modi this week. Significantly, this EV isn't targeted at the Indian market just yet; it's built as a global contender. FY26 Output & Global Reach Production is projected at ~67,000 units for FY26, with most units earmarked for export to over 100 countries — including key regions like Europe and Japan. The car will be available in 49 kWh and 61 kWh LFP battery variants, FWD and AWD, with WLTP ranges reaching up to 426 km. Strategic Timing and Resilience Maruti initially cut production goals sharply — from about 26,500 units in H1 FY26 to roughly 8,200 — because of rare-earth supply constraints. It then plans a ramp-up in H2 to meet its full-year target. The e-Vitara is built on a modern skateboard platform (Heartect-e) co-developed with Toyota and Daihatsu, designed for global appeal and modularity. Infrastructure & Long-Term India Strategy Though focusing on exports for now, Maruti is not deserting the domestic market. They’re rolling out a robust EV ecosystem: DC fast-chargers every 5–10 km in the top 100 cities Over 1,500 EV-ready service centers across 1,000+ cities Home wall-box charger included with e-Vitara A dedicated mobile app for charging and service support integration Key Takeaway: Maruti’s

MARUTI
EV journey is global-first, but India-ready. The e-Vitara is designed for export muscle, earning margins and credibility in mature markets — while the domestic foundation of charging, service, and ownership is being diligently built. A calculated move, not a leap of faith.

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