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Motilal Oswal Report
The Auto Expo 2023 marked a very clear shift in focus towards clean energy for mobility across all the automotive segments. While new launches in the Expo were restricted to Maruti Suzuki India Ltd. and Hyundai, there was abundant showcasing of work done on the clean energy side viz. electric vehicles and Hydrogen.
In passenger vehicles, Maruti Suzuki, Tata Motors Ltd. and Kia showcased their concepts of EV platforms to be launched in 2025E, whereas Hyundai launched its premium EV Ioniq 5.
In commercial vehicles, Tata Motors, Ashok Leyland and VE Commercial Vehicles Ltd. showcased their multi-fuel approach to clean energy in the form of LNG, EVs and Hydrogen (H2ICE and fuel cells).
In terms of key launches, Maruti Suzuki launched its much-awaited Jimny (five-door) and Fornx (Baleno-based cross over), whereas Tata Motors showcased Curvv (coupe) and Harrier EV for likely launch in CY24.
None of the mainstream original equipment manufacturers participated in the Auto Expo but a large number of new OEMs and startups displayed their EV offerings, with Ampere (Greaves Cotton Ltd.) launching Primus, NXG (mid-CY23 launch) and NXU (B2B, end-CY23 launch).
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