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 it unveiled the e-Vitara last January, Maruti Suzuki India on Tuesday formally entered India’s electric passenger vehicle market with the launch of the car, betting on a combination of battery-as-a-service (BaaS), aggressive financing and a nationwide charging and service ecosystem to accelerate EV adoption in a market where penetration has remained stuck at 4–5 per cent for the past two years.

 

On Tuesday, MSIL revealed the introductory price for the 49 kWh battery-pack-powered e-Vitara at Rs 10.99 lakh plus a battery EMI of Rs 3.99 per km. The company did not disclose prices for customers who do not want to opt for BaaS or for higher variants, saying details would be revealed in the coming weeks.

   

The introductory pricing is aggressive, pitting the e-Vitara against Hyundai’s Creta EV (starts at Rs 18 lakh), Mahindra’s BE 6 (Rs 18.9 lakh), MG ZS EV (Rs 17.9 lakh) and Tata Curvv (Rs 18 lakh).

 

The mid-SUV segment accounts for 40 per cent of battery-EV sales in India, making it the largest segment in the EV market. Monthly EV dispatches average around 17,594 units, of which about 40 per cent comes from mid-SUVs.

 

The country’s largest carmaker is also following a path already tested by rivals. Maruti’s BaaS move comes after JSW MG Motor India demonstrated early traction with battery subscription-led ownership models, helping lower upfront acquisition costs for customers wary of EV pricing and battery depreciation.

 

Partho Banerjee, senior executive officer (marketing & sales), Maruti Suzuki India, framed the launch as a generational pivot rather than a product event. “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 auto industry,” Banerjee said.

 

Unlike rivals that prioritised early product launches, Maruti said it spent the past two years building an end-to-end 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 working actively to address production scale-up requirements. Banerjee said Maruti has an annual line capacity of 100,000 units at its Gujarat plant, but the same manufacturing line is shared across multiple requirements — domestic demand, exports, OEM supplies and other models that already have 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. Post July, we plan to expand line capacity, which should help us better serve customers and reduce waiting periods. Our objective is to maintain a balance across models while ensuring customers do not face excessive delays,” he told reporters. Dispatches of the e-Vitara have already begun, with test drives starting immediately.

 

BaaS, buyback and financing push

 

Central to Maruti’s strategy is BaaS, offered as a dual-loan structure that removes the battery cost from the vehicle’s upfront price. Under the scheme, the e-Vitara starts at Rs 10.99 lakh, with battery usage charged at Rs 3.99 per km. The calculation is done assuming vehicle running of 60 km per day, excluding charging cost. The company has also introduced an ‘e-Flex’ scheme that allows customers to upgrade from their existing cars to the e-Vitara at similar EMIs.

 

To address resale anxiety — one of the biggest deterrents to EV adoption — Maruti is offering an assured buyback programme. “Buyback assurance addresses a major fear customers have regarding EV resale value. Many customers worry whether EVs will retain value after four or five years,” Banerjee said. The three-year/45,000 km plan 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 give confidence,” he added, noting that the battery has been tested in extreme temperatures ranging from minus 30 degrees to 60 degrees Celsius and that the same vehicle is already being exported to Europe and Japan.

 

Maruti’s peers such as JSW MG Motor India have also offered buyback guarantees. In December, the company extended its programme from three years to five years, guaranteeing a resale value of 40–60 per cent depending on the tenure chosen.

 

Industry insiders, however, said most customers do not opt for BaaS, which typically accounts for no more than 5–10 per cent of total sales. The model is largely seen as a marketing lever to drive showroom footfalls.

 

Charging and service ecosystem

 

At launch, Maruti will have over 2,000 charging points nationwide, with chargers being installed at Nexa dealerships. Where space or power availability is constrained, chargers will be placed at workshops or True Value outlets. The company has integrated more than 14,000 chargers on its EV app and is offering one year of complimentary charging, along with a free home charger and installation for early buyers.

 

Service coverage remains a key differentiator. Maruti said over 1,500 workshops are EV-ready, backed by 150,000 trained technicians, along with mobile service vans equipped with charging capability.

 

First 100 e-Vitara Club

 

In a nod to supply constraints and long-standing partners, Maruti has also created the “First 100 e-Vitara Club”, prioritising dealers, vendors and corporate customers associated with the company for decades. The initiative, Banerjee said, was conceptualised by the company’s leadership to recognise loyalty during the transition phase.