Maruti Ertiga electric in the making – Launch after WagonR EV
Maruti Suzuki is currently testing several prototypes of the Japanese-spec WagonR EV across the length and breadth of the country. The idea of the extensive testing regime is not only to gather vital data but also to develop a deep understanding about what it takes to make an EV attractive to demanding Indian customers.
While the Maruti WagonR EV is expected to make its debut at the Auto Expo 2020, the company’s second electric vehicle project for India has already started taking shape. According to its sources, Suzuki Motor Corporation’s engineers have selected the Ertiga compact MPV as the second EV candidate for India.
The publication reports that Ertiga’s popularity among both private customers and commercial operators is one of the driving factors for its selection. The Japanese small car specialist’s Indian subsidiary will take the lead role in developing the Ergita electric.
With all most all manufacturers scrambling to come up with their own EV roadmap for India, the long-standing industry leader can’t afford to take a relaxed approach
I have writing for a year now on the weakness in this stock and the sector as a whole. The stock is down 40 percent from the highs. The fall has halted at the Fibonacci confluence zone of 5827. We also have a trend line support in the same zone. Therefore we have a trend line support and a price support in the same zone which makes the zone a strong support. A support on the horizontal and the vertical is a strong support and hence a high probability reversal zone. At the support zone the RSI is in the bull zone of 40 and that again tells that the trend of the counter is intact. The zone happens to be the 61.8% of the swing from 3225 and 50% from the 1552 levels. Therefore the trend is intact as the 61.85 of the larger swing is still not broken. The shorter and longer moving averages have converged and hence at a critical zone. A failure here will mean a big upswing for the counter as far as the moving average analysis is concerned. A break of the 5827 level will be extremely bearish for the counter. With negative news flow in the sector and the stock at an important support the probability of the counter reversing from here is very high.