Maruti Suzuki India is awaiting a policy framework that promotes all clean technologies, which would result in the replacement of petrol and diesel cars with vehicles using eco-friendly technologies, according to its Chairman RC Bhargava. In his address to shareholders in the company's annual report for 2023-24, Bhargava stated that industrial growth requires policy stability and a predictable work environment. He expressed hope that the third term of Prime Minister Narendra Modi's government would continue to focus on infrastructure development, maintaining fiscal prudence, controlling inflation, implementing manufacturing reforms, and supporting the private sector. Bhargava acknowledged that some believe Maruti Suzuki has been slow to manufacture electric vehicles. He explained that the company chose a more diversified approach to meet national objectives rather than focusing solely on one technology. He noted that the government recognises the need for various technologies in India, with some states, like Uttar Pradesh, already taking steps in this direction. Bhargava emphasised that a significant national goal for the car industry is to reduce carbon and greenhouse gas emissions and decrease dependence on imported fuel. Maruti Suzuki has decided that, given the economic and social environment and the availability of resources in India, the best strategy would be to offer cars with different technologies at various price levels. Bhargava mentioned that the company will introduce electric cars in the coming months, but the rapid acceptance of these vehicles will depend on the pace of infrastructure development and the reduction in their cost, which should be driven by localisation of production and improved technology. Bhargava asserted that pure petrol and diesel cars are the worst in terms of carbon emissions and fuel consumption. As electric car usage increases, customers should be encouraged to buy cars with strong hybrid technology, CNG, ethanol, or biogas. He stated that hybrid cars improve fuel efficiency by about 35% to 45% and reduce carbon and greenhouse gas emissions by 25% to 35%. While CNG cars are not as clean as hybrids, they are better than petrol or diesel cars and do not use oil. With the government prioritising CNG infrastructure, the sale of CNG cars has been rising, and Maruti Suzuki expects to sell about 600,000 such cars this year. Regarding biogas, Bhargava highlighted India's potential for developing it from agricultural, animal, and human waste. He described biogas as completely renewable, carbon-negative, and free of import content. Maruti Suzuki has begun a trial to produce biogas at its Manesar plant and is looking forward to supportive government policies. Bhargava also mentioned ongoing work to modify car engines to use petrol blended with 20% ethanol, with technology available to use higher ethanol blends. He further stated that, amidst the evolving automotive landscape in India, Maruti Suzuki will continue to address the needs of consumers who cannot afford expensive cars. The company's strategy remains aligned with national priorities and societal needs. Bhargava reaffirmed Maruti Suzuki's commitment to producing low-cost small cars while also catering to the market for SUVs and higher-cost vehicles. Looking ahead, Bhargava noted that the implementation of Maruti 3.0 would rely significantly on technology development. Suzuki is advancing its own R&D efforts, while Maruti Suzuki will strengthen its capabilities and focus on conventional technologies, with its engineering workforce now numbering about 2,500. Maruti Suzuki India Managing Director and CEO H Takeuchi commented that India's rapid development and aspiration to become a developed nation by 2047 present opportunities to deliver the 'joy of mobility' to many more Indians. In FY 2023-24, India's passenger vehicle market surpassed 40 lakh units in annual sales, maintaining its position as the third-largest PV market globally. Takeuchi expressed his personal mission to expand car ownership and deliver mobility to more Indians.