Lexus aims to introduce its inaugural EV in India within two years, challenging luxury rivals like Mercedes-Benz, BMW, Audi, and Jaguar.
Lexus unveiled two concept EVs at the Japan Mobility Show in Tokyo. According to Lexus India’s president, Naveen Soni, the company intends to release the electric sedan LF-ZC in India by 2025. However, there’s no confirmed timeline for the launch of the electric SUV LF-ZL in the country.
Currently, Lexus India offers a variety of petrol, diesel, and hybrid vehicles priced from ₹63.1 lakh to ₹2.8 crore. With the Indian government promoting eco-friendly transportation, EVs are becoming increasingly popular, spanning from economy to luxury segments.
Soni highlighted that the luxury car market in India has recovered swiftly after the pandemic. He noted that 2023 is shaping up well, with luxury vehicle sales anticipated to exceed the previous high reached in 2018. Approximately 42,000-45,000 luxury cars are projected to be sold this year, an increase from the 38,000 units in 2022 and surpassing the 40,000 units sold in 2018.
Lexus is on track to be the fastest-growing luxury car brand in India. Soni emphasized that India is poised to be one of Lexus’s top three growth markets in Asia, excluding China and Japan. This growth is attributed to an expanded product range and distribution network. By July 2023, Lexus had already surpassed its total 2022 sales, aiming to be among the top three markets for Lexus Asia by 2024. Soni remarked on the brand’s significant progress, moving from the top 10 markets in the previous year to the top 5 in the Asia-Pacific region for Lexus this year.
