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Daybreak

EVs aren’t everybody's cup of tea. Maruti-Toyota are making the most of it.

Tue Jun 04 2024
Maruti SuzukiToyotahybrid vehiclesEVspartnershipconsumer preference

Description

This episode explores the partnership between Maruti Suzuki and Toyota in India, which has led to the success of hybrid vehicles in the country. It compares the popularity of hybrids and EVs, discusses the factors influencing consumer preference, and examines the future outlook for these technologies in India.

Insights

Hybrids Outperform EVs in Sales

Hybrids have consistently outperformed EVs in terms of sales in India.

Consumer Preference for Hybrids

Indian consumers prefer hybrids over EVs due to price sensitivity and concerns about resale value.

Partnership Success

The partnership between Maruti Suzuki and Toyota has been successful due to the growing popularity of hybrid vehicles in India.

Environmental Sustainability

Hybrids are considered a better option from an environmental sustainability perspective compared to EVs.

Chapters

  1. Maruti Suzuki and Toyota Partnership
  2. Hybrids vs EVs
  3. Consumer Preference and Future Outlook
Summary
Transcript

Maruti Suzuki and Toyota Partnership

00:05 - 02:19

  • In 2023, Maruti Suzuki launched its most expensive car yet, the Inb, a 7-seater hybrid multi-utility vehicle.
  • Maruti's Inb bears a striking resemblance to Toyota's Inova high-cross, another hybrid MUV.
  • Toyota and Maruti entered into a partnership in 2021, where Toyota would share its hybrid technology with Maruti in exchange for re-entering the Pocket Friendly segment.
  • The partnership has been successful due to the growing popularity of hybrid vehicles in India.
  • Hybrid vehicles capture kinetic energy through regenerative braking and an internal combustion engine.
  • Hybrid car registrations in India are almost four times that of EVs.
  • The partnership has allowed Maruti to venture into the premium segment and Toyota to sell good cars in the lower-priced economy segment.

Hybrids vs EVs

02:20 - 06:48

  • Indian consumers prefer hybrids over EVs due to price sensitivity and concerns about resale value.
  • A study by IIT Kanpur found that hybrids have a similar total cost of ownership (TCO) as EVs when subsidies are considered.
  • Hybrids are considered a better option from an environmental sustainability perspective.
  • Car companies like Tata Motors and Maruti have different strategies regarding EVs and hybrids.
  • Hybrids have consistently outperformed EVs in terms of sales in India.

Consumer Preference and Future Outlook

06:52 - 12:29

  • Indian consumers are leaning towards hybrids due to their affordability and reliability.
  • Pure EVs offer the opportunity to eliminate air pollution, but consumer adoption is still low.
  • Maruti and Toyota are benefiting from the preference for hybrids in India.
  • The future outlook for EVs and hybrids in India remains uncertain.
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