It's clear the PV market in India won't grow fast
Business Standard|November 13, 2024
R C BHARGAVA, chairman of Maruti Suzuki India, projects 3-4 per cent growth for India's passenger car market, citing affordability challenges in an interview with Surajeet Das Gupta in New Delhi. Maruti's first electric vehicle (EV), the Vitara, will be exported first, with an Indian launch in mid-2025. Bhargava underscores the need for higher localisation and design changes to make affordable EVs for India. Despite Chinese competition, Bhargava is confident about Maruti's edge. Edited excerpts:
Surajeet Das Gupta
It's clear the PV market in India won't grow fast

You have just announced your first electric car, the eVitara, which will be exported initially. Why have you not chosen to launch it in the domestic market first?

The midsized EV will be priced at ₹20 lakh plus in India, so the volumes will be very small in the country. Therefore, we decided to build volumes by exporting it to Europe and Japan with both Suzuki and Toyota and then launch it in India sometime in May or June 2025. The volumes will help us reduce production costs.

Will you benefit from the production-linked incentive (PLI) scheme for the electric car, for which you are eligible?

Esta historia es de la edición November 13, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición November 13, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS STANDARDVer todo
Business Standard

Qcom firms flouting domestic laws: CAIT

Top 3 companies got ₹54K cr FDI but used only ₹1.3K cr lawfully

time-read
1 min  |
November 14, 2024
AI may create 2.73 mn jobs in India by 2028
Business Standard

AI may create 2.73 mn jobs in India by 2028

Amid intense debates over artificial intelligence (AI) and generative AI (GenAI) causing job loss going forward, a study by ServiceNow, in collaboration with Pearson, has projected that AI could actually drive employment growth, creating an estimated 2.73 million jobs in India by 2028.

time-read
1 min  |
November 14, 2024
Business Standard

Child insurance: Waiver of premium can help secure education goal

Vineet Kumar (name changed on request), a 32-year-old Faridabad-based advertising executive, is the father of a one-year-old. While he finds fatherhood fulfilling, he admits to certain anxieties. \"I do sometimes worry about what would happen to my child if I am not around,\" says Kumar.

time-read
2 minutos  |
November 14, 2024
More appetite for Swiggy than Zomato in long term
Business Standard

More appetite for Swiggy than Zomato in long term

Brokerages bullish on its shares, give 'buy' rating to stock

time-read
2 minutos  |
November 14, 2024
Business Standard

F&O segment gets 45 additions

The stock exchanges on Wednesday announced the addition of 45 stocks in the new list of scrips eligible for trading in the futures and options (F&O) segment, including Zomato, Jio Financial, Paytm, Delhivery, and Avenue Supermarts.

time-read
1 min  |
November 14, 2024
Expansion, operational gains a positive for Hindalco
Business Standard

Expansion, operational gains a positive for Hindalco

Consolidated net sales of Hindalco Industries stood at ₹58,200 crore, up 7 per cent year on year (Y-o-Y) and 2 per cent quarter on quarter (Q-o-Q) in the second quarter of the current financial year (Q2FY25), with better realisations and efficiencies in India.

time-read
2 minutos  |
November 14, 2024
Market regulator bats for easing angel fund norms
Business Standard

Market regulator bats for easing angel fund norms

Market regulator Securities and Exchange Board of India (Sebi) may soon allow angel funds to expand the scope of investors by including Hindu undivided families (HUFs), family trusts, and sole proprietorships, among others.

time-read
1 min  |
November 14, 2024
Business Standard

Sebi takes up review of custodian norms

Capital market regulator Securities and Exchange Board of India (Sebi) has proposed measures to ease operations and compliance by custodians — entities which manage foreign portfolio investors (FPIs).

time-read
1 min  |
November 14, 2024
FMCG sector's defensive cloak feels tear of market forces
Business Standard

FMCG sector's defensive cloak feels tear of market forces

The fast-moving consumer goods (FMCG) sector is losing its status as a defensive sector.

time-read
2 minutos  |
November 14, 2024
Sebi mulls action for lapses in AI usage
Business Standard

Sebi mulls action for lapses in AI usage

The Securities and Exchange Board of India (Sebi) on Wednesday proposed norms to specify responsibilities on its registered entities like mutual funds, stock brokers and market infrastructure institutions (MIIs) for the use of artificial intelligence (AI) and machine learning (ML) tools.

time-read
1 min  |
November 14, 2024