Price of Suzuki EVs to be based on 2014 pact: Bhargava

Suzuki Motor Corporation’s wholly-owned arm Suzuki Motor Gujarat (SMG), which plans to locally manufacture EVs and batteries by 2026, will follow the same arrangement for selling the vehicle to Maruti Suzuki India (MSI) as it currently has for internal combustion engine (ICE) cars.

Maruti Suzuki chairman RC Bhargava said that the pricing of electric vehicles (EVs) or batteries sold by SMG to MSI will take into account the cost of material, labour, electricity, depreciation of equipment and other consumables, but not include any profits.

“The pricing of the EVs sold will be based on the contract manufacturing agreement signed at the time of the setting up of the SMG plant in 2014,” Bhargava said.