Maruti is still to venture into the electric segment, and it announced its entry into this field will be marked by localisation and scalability.
Maruti Suzuki is set to export lithium-ion cells valued at Rs 1,000 crore next year as part of its strategy to establish a robust scale and reduce costs. This was revealed by Rahul Bharti, Executive Director of Corporate Affairs at Maruti Suzuki, during the India EV Conclave, which was co-hosted with the Tamil Nadu government this week.
Bharti highlighted that the company’s parent-level joint venture with Suzuki is already producing India’s first lithium-ion cells and is beginning to export them. He mentioned that these cells, primarily for hybrid vehicle batteries, are instrumental in Maruti Suzuki and Toyota’s efforts to forge a new segment in India.
Despite being a market leader, Maruti Suzuki has yet to make a significant entry into the electric vehicle (EV) market. However, the company plans to do so, focusing on localisation and scale. They announced their first Battery Electric Vehicle (BEV) plant featuring cell-level localisation two years ago. Maruti Suzuki’s latest financial reports indicate plans to export battery packs to Magyar Suzuki, Suzuki’s European subsidiary, with the total amount not exceeding Rs 1,500 crore annually from FY23 to FY25.
These battery packs, produced by TDS Lithium Ion Battery Gujarat Private Ltd—a collaboration between Toshiba, Denso, and Suzuki Motor Corp—reflect Maruti Suzuki’s commitment to the evolving EV landscape.
India’s EV industry is poised for a dramatic shift with the recent discovery of 5.9 million metric tonnes of lithium reserves in Jammu and Kashmir. These reserves, yielding high-quality battery-grade lithium carbonate, signify a potential revolution in the country’s EV sector. The government is fast-tracking the auction process for this lithium mineral block, marking a major step in mineral resource exploration and utilization.
The country has ambitious goals for EV adoption by 2030, aiming for electric vehicles to make up 30% of private cars, 70% of commercial vehicles, 40% of buses, and 80% of two- and three-wheelers. This would result in about 80 million EVs on Indian roads by 2030. Recent data reveals that India imported lithium and lithium-ion materials worth Rs 18,763 crore between April and January of FY23, highlighting the growing importance of these resources in the nation’s automotive and energy sectors.
