Japanese carmaker Suzuki Motor is likely to venture into the electric vehicle market in India. The company is planning to launch its first electric vehicle in the country by 2025.
Suzuki operates in partnership with Maruti in India. Maruti Suzuki is the country's leading carmaker in the compact segment.
According to reports, the all-electric compact model is already in the works. The company will launch the model first in India, before entering other markets like Europe and Japan.
Reports say that the vehicle could cost around the Rs 10-11 lakh after subsidies offered by the government are availed.
Notably, the company had earlier said that it will soon enter the EV market and bring hybrid cars keeping the Indian consumers in mind.
Maruti Suzuki is currently the biggest automaker in the country. The company is well known to offer affordable cars as the maintenance costs of its vehicles are low.
Notably, Maruti Suzuki has been testing the electrified version of WagonR, one of its popular offerings, for some time. The decision to launch an all electric vehicle assumes significance as its competitors have already started to move towards electric mobility.
If reports are to go by, Maruti Suzuki could bring an electric version of Alto, WagonR, Baleno and Swift as these models dominate the market, being cheaper than the competitors in the small, compact car segments.