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New Product Launches accelerate as festive season around the corner

ICICIdirect Research 29 Aug 2025 DISCLAIMER

Maruti Suzuki: e-Vitara production flagged off by Prime Minister, domestic launch awaited
Maruti Suzuki officially announced that it has commenced production of its first battery electric vehicle, the e VITARA, in Gujarat on August 25, 2025, in a ceremony attended by Prime Minister Narendra Modi who also inaugurated a local hybrid battery electrode plant, making India, Suzuki’s global hub for EV manufacturing.
The e VITARA is poised to be exported to over 100 countries, including key markets in Europe and Japan, and will be produced on a dedicated EV platform with two battery options (a 49-kWh pack providing a range of over 500 km and a 61-kWh pack with enhanced power), extensive safety features, and technological advancements.
Suzuki motor corporation announced a strategic investment of ₹70,000 crore in India over the next few years to bolster advanced automotive manufacturing.
The e-Vitara is one of the highly anticipated SUV, slated for annual sales of ~70,000 units, largely for exports. For Maruti, exports, now constitute ~18% of volumes at 96k units in Q1FY26, are set to grow by 20% in FY26 led by e-Vitara exports to Europe, Japan, among others. For Maruti Suzuki, the commercial launch of the e VITARA not only diversifies its portfolio into the high-growth EV segment but also enhances its competitiveness in advanced markets such as Europe and Japan.
With macro-economic triggers in term of rate rationalisation of income tax rate & GST and 8th pay commission roll-out, we remain positive on the stock. We have a BUY rating on Maruti with a target price of ₹ 15,500; valuing it at 28x PE on FY27. Sales/PAT at MSIL are seen growing ~15% over FY25-27E (Volume CAGR: 10%)
 
TVS Motors: New E-2W: Orbiter
TVS Motors has launched - TVS Orbiter - electric scooter for the Indian markets with a price tag of ₹99,900 (ex-showroom Bengaluru, inclusive of PM E-Drive Scheme benefits).
The Orbiter offers a 158 km certified range with a 3.1kwh battery. It offers host of exciting features which include cruise control, hill hold assist, a spacious 34-litre boot, and advanced connectivity features like Bluetooth integration and turn-by-turn navigation.
This move, positions the Orbiter as an entry-level alternative to the iQube, which remains TVS’s premium urban EV performer.
The iQube is available in multiple battery options, 2.2–5.3 kWh offering a range of 94-212 kms.
By launching the Orbiter, TVS is expanding its EV reach, targeting new customers.
The company is amongst the top 3 players in the E-2W space domestically
 
Escorts Kubota: New Tractor in 40-50 hp category
Escorts Kubota Limited has announced the launch of the Kubota MU4201 tractor, marking the company's entry into the key 41–44 HP segment of the Indian market.
Developed by Japanese engineers, the MU4201 features a flat deck for comfort, suspended pedals, a balancer shaft for smooth operation, synchromesh transmission, and a dual clutch—premium features typically found in higher HP tractors. The tractor is compatible with popular implements such as rotavators and disc harrows, designed for cultivation and haulage requirements, making it especially suitable for farmers upgrading from 35 HP models.
Alongside this 42 hp tractor, upgraded versions of the 45 hp and 55 hp tractors were also introduced, reinforcing Escorts Kubota’s competitive position in the 41–50 HP segment that accounts for over 50% of Indian tractor sales.
 
Key things to watch:
GST rate cut decision, sooner the better as it can potentially impact interim retails.
Maruti new product launch in the SUV space – possibly on 3rd September 2025

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