Surge in Indian Electric Vehicle Exports Driven by Maruti, Tata, and Mahindra
Surge in Indian Electric Vehicle Exports Driven by Maruti, Tata, and Mahindra
Indian electric vehicle exports surged 14-fold to 15,641 units in Q1 2023, primarily driven by Maruti Suzuki’s e-Vitara, which became the third-most exported car from India.
Maruti Suzuki led the export boom, shipping 15,210 electric vehicles to 47 countries, with the UK and South Africa as primary markets. The company plans to introduce four additional EV models by 2030, capitalizing on strong demand in developed markets. Tata Motors and Mahindra & Mahindra are also expanding their EV export strategies, with Tata planning to invest ₹40,000 crore to increase production capacity and diversify its EV portfolio. Both companies are targeting right-hand drive markets initially, with plans for gradual expansion into left-hand drive regions.
For journalistic integrity, this report was summarized from: economictimes.indiatimes.com