Competition in electric vehicle segment moves into high gear with top car makers entrance

Key highlights:

• Maruti Suzuki announced that they will invest in electric vehicles
• Hyundai is now considering the assembly of electric vehicles in India as early as 2019
• Tata Motors is already readying to unveil an electric version of the Tiago

With the government setting the target of 2030 for electric vehicles in the country, all car manufacturers in the country are finally taking this seriously and are gearing for launches of their own electric cars soon. While Mahindra & Mahindra (M&M) was the only serious player in the electric car market in India, now others have said that they are looking to launch their own electric vehicles soon.

The largest car manufacturer in India Maruti Suzuki announced that they will invest in electric vehicles and come out with models soon.

Maruti Suzuki Chairman RC Bhargava at the 36th Annual General Meeting said that the company will not hold back on the electric vehicle segment and will come up with models as soon as they can determine consumers' preferences, reported the Financial Express.

Zeebiz report that the government would need to spend around Rs 1.80 lakh crore on setting up fast charging points in order to meet the target.

However, many private companies are helping the government out in setting up electric vehicle charging stations. This was at the end of August as Tata Power installed its first electric vehicle charging station in Vikhroli, Mumbai.

Others such as Mahindra Electric has partnered with the government to set up 50 fast charging stations across Bengaluru, Delhi and Nagpur.

ALSO READ:

• Govt needs to spend about Rs 1.8 lakh crore in electric vehicle infrastructure to meet 2030 target
• How much power does India need for its cars to go all electric?
• Here is why the govt has dumped hybrid cars from its electric vehicle plan in India