New Delhi, April 3 -- Maruti Suzuki India Ltd's EV debut got off to a poor start with production falling short of target as its domestic launch got delayed, a rare-earth magnet crisis hit manufacturers and global electric vehicle sales growth slowed.

The country's largest car manufacturer exported 25,000 EVs and registered 1,400 units domestically in FY26, missing a target set by chairman RC Bhargava at the start of the fiscal year to produce 70,000 units of its first electric vehicle, mostly for overseas markets. Although Maruti hasn't disclosed EV production numbers, they are typically a little higher than sales volumes.

"There were some initial delays but now the ramp-up is progressing steadily," Rahul Bharti, senior executive office...