- 19 Sep 2024
- ICICI Securities
LOOKING AT COMPREHENSIVE EV CHARGING ECOSYSTEM BEFORE EV LAUNCH
News: As per media sources, Maruti Suzuki is planning to establish 25,000 charging points across India in preparation for the launch of its first electric vehicle (EV). This initiative aims to enhance the EV infrastructure and support the growing demand for electric mobility in the country. Along with its 5100 plus service centres, the company is in talks with oil marketing companies (OMCs) and energy companies to create a charging ecosystem. The plans suggest that Maruti is developing EV infrastructure at a large scale, as in comparison, Tata motors, the EV market leader in the country currently has 5,600 public charging points.
Views: Maruti in the past has shared their EV vision wherein they are looking at comprehensive play in the EV domain. Being the industry leader in the PV space, huge dealership and Service network is its biggest moat and tapping the same for charging its electric vehicles can help company taste success in EV domain with first product launch expected in CY25. We shall closely monitor developments in this space.
Impact: Neutral