Maruti Suzuki enters EV market with sharp e-Vitara pricing, BaaS model

Maruti Suzuki debuts the e-Vitara with aggressive pricing, a BaaS model, buyback assurance and a charging-service network, while cautioning of production constraints until July

After a long wait since unveiling the eVitara last January, Maruti Suzuki India (MSIL) on Monday formally entered India’s electric passenger vehicle market. The company is betting on a mix of battery-as-a-service (BaaS), aggressive financing, and a nationwide charging and service network to push electric vehicle (EV) adoption in a market where penetration has been stuck at 4–5 per cent for the past two years.

 

On Tuesday, MSIL announced an introductory price of ₹10.99 lakh for the eVitara equipped with a 49-kilowatt-hour (kWh) battery pack, plus a battery-equated monthly instalment (EMI) of ₹3.99 per kilometre (km). Prices for customers opting out of BaaS, as well as for higher variants, were not disclosed and will be announced in the coming weeks.

 

The pricing is sharply undercutting rivals, placing the eVitara against the Mahindra BE.6e (₹18.9 lakh), Hyundai Creta EV (starting at ₹18 lakh), Tata Motors Curvv (₹18 lakh), and MG ZS EV (₹17.9 lakh).

 

The mid-size sport utility vehicle (SUV) segment accounts for 40 per cent of battery-EV sales in India, making it the largest EV category. Monthly EV dispatches average around 17,594 units, of which roughly 40 per cent come from mid-SUVs.

 

The country’s largest carmaker is also borrowing from playbooks already tested by rivals. MSIL’s BaaS push follows early traction seen by JSW MG Motor India with battery subscription-led ownership models aimed at lowering upfront costs and easing concerns around battery depreciation.

 

Partho Banerjee, senior executive officer (marketing and sales) at MSIL, framed the launch as a generational shift rather than a routine product rollout. “Forty-five years ago, in this very month of February, Maruti was incorporated with a clear objective — to put India on wheels. Today, once again in February, we are ready to embark on a transformational journey that will redefine the automotive industry,” Banerjee said.

 

Unlike rivals that rushed early launches, MSIL said it spent the past two years building a full-stack EV ownership framework.

 

“During our silence, there was industry speculation. But that time was spent addressing customer concerns — systematically building an EV ecosystem that removes every barrier to adoption,” Banerjee said, adding that EV success “is not about the product alone, but the entire ownership package”.

 

The company is now grappling with production scale-up. Banerjee said MSIL has an annual line capacity of 100,000 units at its Gujarat plant, but the line is shared across domestic demand, exports, original equipment manufacturer supplies, and other models that already carry long waiting periods.

 

“As a result, we are facing short-term production constraints. Balancing domestic volumes and export commitments will remain a challenge until around July. After July, we plan to expand line capacity, which should help us serve customers better and reduce waiting periods,” he said. Dispatches of the eVitara have begun, with test drives starting immediately.

 

BaaS pricing, buybacks, and EMI pitch

 

At the core of MSIL’s strategy is BaaS, structured as a dual-loan model that strips battery costs from the vehicle’s upfront price. Under the scheme, the eVitara starts at ₹10.99 lakh, with battery usage billed at ₹3.99 per km, calculated on an assumed daily running of 60 km and excluding charging costs.

 

The company has also rolled out an eFlex scheme that allows customers to upgrade from existing cars to the eVitara at comparable EMIs.

 

To counter resale anxiety — a persistent drag on EV adoption — MSIL is offering an assured buyback programme. The three-year/45,000 km option offers up to 60 per cent assured buyback value, while a four-year/60,000 km plan guarantees 50 per cent.

 

“We do not expect many customers to actually use this option. It is primarily meant to build confidence,” Banerjee said. He added that the battery has been tested across temperatures ranging from minus 30 degrees to 60 degrees Celsius and that the same vehicle is already being exported to Japan and Europe.

 

Peers such as JSW MG Motor India have also leaned on buyback assurances. In December, the company extended its programme from three to five years, offering guaranteed resale values of 40–60 per cent depending on tenure.

 

Industry executives, however, said BaaS uptake remains limited, typically accounting for just 5–10 per cent of sales, and is largely used as a showroom draw rather than a mainstream ownership choice.

 

Charging scale and service reach

 

At launch, MSIL will operate over 2,000 charging points nationwide, with chargers being installed at Nexa dealerships. Where space or power availability is limited, chargers will be placed at workshops or True Value outlets.

 

The company has also integrated more than 14,000 chargers into its EV app and is offering one year of complimentary charging, along with a free home charger and installation for early buyers.

 

On after-sales support, MSIL said more than 1,500 workshops are EV-ready, supported by 150,000 trained technicians and mobile service vans equipped with charging capability.

 

The ‘First 100’ loyalty lane

 

Amid supply constraints, MSIL has created the ‘First 100 eVitara Club’, giving priority to long-standing dealers, vendors, and corporate customers.

 

The initiative, Banerjee said, was conceived by the company’s leadership to recognise partners who have remained with MSIL through decades of transition.