Sources told CNBC-TV18 that the commercial rollout of the e-Vitara is likely to be delayed due to the rare earth magnet crisis.
In addition to the delay in its launch, Maruti Suzuki has also cut its production targets for the e-Vitara for financial year 2026 to 67,000 units from 88,000 units earlier. In comparison to the original target of producing 26,500 electric cars by September this year, Maruti Suzuki plans to produce only 8,200 vehicles, sources said.
However, the company remains hopeful that production schedules will adjust starting October and the revised full year target of 67,000 vehicles will be met. Although production operations have not halted, they are ongoing in limited quantities, according to sources in the know.
In January this year, Maruti Suzuki had announced that it will first export the e-Vitara to Japan and Europe.
Out of the 46 analysts that have coverage on Maruti Suzuki India, 37 of them have a “buy” rating on the stock, three have a “sell” rating, while the other six have a “hold” recommendation.
Shares of Maruti Suzuki had ended at the lows of the day on Tuesday, ending 1.3% lower at ₹12,472. The stock has gained 11% so far in 2025.
