Country's largest carmaker Maruti Suzuki and its parent Suzuki Motor are working to develop low-cost hybrid compact cars as they prepare to maintain their stronghold in the Indian market with eco-friendly vehicles expected gain traction.
Terming development of smaller cars with hybrid technology as "as an area of big interest" for both the firm and parent Suzuki, Maruti Suzuki India Chairman R C Bhargava said they were trying to exploit the space for small cars with green technology as big companies like Toyota are currently focusing on bigger ones.
"In India it makes sense for hybrid technology for the smaller car because today globally there is no hybrid technology for small cars or low-cost car and that I think is needs to be developed. We, Maruti and Suzuki, are working on it," Bhargava said.
The automaker currently offers only mild hybrid technology in Ertiga MPV and premium sedan Ciaz.
With a fleet of over 15 models, MSI currently commands 47 per cent of the Indian passenger vehicles market. The company has set a target of selling 20 lakh units annually by 2020. It is expected to produce 16 lakh units this fiscal.