Maruti’s first EV car to cost more than Rs 10 lakh-WHY?

Maruti is known for its affordable car lineup. So when Maruti started working on the WagonR EV, it was expected to be the most affordable EV in India. But that did not happen. Instead Maruti is developing an electric mid-size SUV. But this EV will cost more than Rs 10 lakh. In today’s article, we will discuss the reason behind this. 

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Rs 10 lakh EV

Recently it was reported that Maruti’s first EV will be launched by 2025. According to Maruti’s CEO, Hisahi Takeuchi, it is unlikely to be priced below Rs 10 lakh. Takeuchi blamed the high cost of battery and technology for this, and he doesn’t see the prices going down in the upcoming years. Lithium-ion batteries account for nearly 40% of the cost of an electric vehicle. 

WagonR EV

Takeuchi also touched on the point of giving a small battery to pull down the cost. But a smaller battery will lead to range anxiety. This seems to be a major reason why Maruti has scrapped the WagonR EV project. The WagonR EV was expected to be the most affordable EV in India. But Maruti has shifted its focus on making a proper ground-up EV with Toyota.

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Maruti’s first EV

Toyota and Maruti have started working on a mid-size electric SUV codenamed YY8. There are reports that the vehicle is being developed in two-wheel drive and all-wheel-drive configurations. Maruti will be internally sourcing the battery pack giving it a big cost advantage over rivals. The company is expected to price the YY8 very aggressively to take on the established players.

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