Electric cars are set to take off in the country with the top manufacturers committing themselves to invest heavily in the segment. While homegrown companies Tata Motors and Mahindra were the early movers, Hyundai has followed suit.

The largest player has so far been reticent about jumping into the EV fray. But Maruti Suzuki has announced a big ticket EV investment. While the rest play catch-up, Tata Motors has gone ahead and announced its Generation 2 EV architecture.

However, there is still no clarity on the charging infrastructure. The government in its last budget announced its intention to formulate a battery swapping policy, but this is geared more towards two-wheeler and three-wheelers rather than cars.

Maruti parent Suzuki last month announced a total investment of Rs 10,445 crore for manufacturing EVs and chargers for battery electric vehicles.

Suzuki will invest Rs 3,100 crore to increase production capacity for BEV manufacturing from 2025. It will invest Rs 7,300 crore to construct a plant for BEV batteries on the land neighbouring Suzuki’s Gujarat facility.

Hyundai Motor India is investing Rs 4,000 crore to launch half a dozen electric vehicles (EV) by 2028. The first of these products will hit Indian roads in 2022.

Mahindra & Mahindra will invest Rs 3,000 crore and is considering a new brand name for the electric SUVs that it will launch by 2027. It plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories.

Tata Motors, which leads the EV space with its Nexon EV, is planning to invest Rs 15,000 crore in the EV segment in the next five years. The company is also planning to develop around 10 more new offerings in the segment with different body styles, price and driving range.