Hyundai's plan to capture EV market in India in just 6 years revealed

New Delhi:

As the EV market in India is swiftly expanding, Hyundai is all set to blaze the trail and come out ahead of competition in the coming years.

S S Kim, Hyundai Motor India MD & CEO told PTI, “As we continue to redefine the mobility space, today we are yet again showcasing our commitment towards Indian customers with the announcement of expanding our BEV line-up to six vehicles for the Indian market by 2028.”  

“The company is taking experiences beyond mobility and are strongly focusing on intelligent technology, sustainability and innovation. Keeping in line with this thought, we will introduce our dedicated BEV Platform – E-GMP as well as modified platforms for battery electric vehicles in India,” Kim told PTI.

Hyundai is planning to expand its ‘EV launch list’ by adding six battery electric vehicles in India by 2028. The company is looking forward to invest around Rs.4,000 crores in the R&D. 

Over the next few years, Hyundai will unveil and launch models based on its existing range as well as completely new vehicles based on its global platform ‘E-GMP.’

Referring to the launch of its first product,  Kim said, “This year is over, there are only a few days left. Hopefully, from next year”.

“Hyundai is looking at developing a complete ecosystem for electric vehicles in the country and is currently focusing on ways to localize production processes.”

“Besides, efforts are on to locate the right set of partners for charging infrastructure as well as other related activities,” he added.

“Our R&D team along with the procurement department has done some market research. We are trying to explore some partnerships with local suppliers….we have shortlisted some candidates and we are reviewing their capabilities,” he further explained.

“The EV production would happen at the company’s Chennai-based plant, he stated while adding that in the initial phase major components like batteries could be sourced from abroad.”

“We are having discussions with many global battery players in China and South Korea. It is still not clear whether local manufacturing will happen here in the next few years. I hope in a few years it will be manufactured here” added Kim.

The company’s line-up of six BEVs will offer to multiple segments which include India’s mass market and mass premium segments.

“The automaker would also introduce the BEVs in different body styles, including SUV body shape by 2028, thereby offering a wide range of models for customers to choose from,” stated an official. 

Hyundai’s E-GMP platform has the potential to feature a large battery capacity of up to 77.4 kWh. It also caters 2WD and 4WD capabilities, improved handling and ability to attain a top speed of 260 km/h. Hyundai already sells one EV model, Kona Electric, in the country.


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