NEW DELHI: Maruti Suzuki India will soon launch electric car models based on customer preference, so as to be present in all the segments and offer a better choice to the customers, R C Bhargava, chairman of Maruti Suzuki India, said.
This is also in tune with the government’s thrust to promote electric vehicles. “The government has announced a programme to rapidly promote the use of electric vehicles in India. It is a very laudable policy as it will greatly enhance the usage and overtime lead to cleaner environment,” Bhargava told shareholders in the company’s 36th annual general meeting.
MSIL with about 50 per cent of the market share in the Indian passenger vehicles segment, has set a sales target to grow in double digits over the next 3-5 years. At such growth rate, MSIL aims to achieve its target of selling 2 million units by 2020 and a further 2.5-3 million cars in the future.
“Your company will not hold back in the segment. As soon as we can determine the customer preference we will come up with such models. In the meantime, focus will be to increase fuel efficiency (in current models) and bring in new technologies,” Bhargava said.
Bhargava assured the shareholders that growth in the economy would lead to fresh spurt in demand for cars in the country.
The AGM was attended by Suzuki Motor Corp Chairman Osamu Suzuki and Managing Director & CEO Kenichi Ayukawa. Bhargava, though, declined to make any commitment on the demand for a bonus shares by shareholders and stated that the purpose to a larger extent has been met this year by more than doubling the dividend payout.