Hyundai Motor India is stepping on the pedal in terms of its EV strategy as it plans to have a robust EV portfolio by 2030. As Hyundai Motor Group (the Group or HMG) Executive Chair Euisun Chung visited India to review the Group’s mid- to long-term future mobility strategies, its electrification plans have been chalked out and that includes locally made EVs to support the premium EVs like the Ioniq 5 which is already on sale. Hyundai Motor India will establish an annual production system of one million units by 2025 and locally made EVs feature in the plans.
Speaking about the company’s electrification strategy, Executive Chair Chung said, “We will develop EVs tailored to the Indian market and expand EV infrastructure in the region. We will lead the next generation of mobility in India, playing a key role in electrification, and we will continue to elevate Hyundai as a premium brand.”
Another key development would be that Hyundai Motor India will start operating its Pune plant in the second half of next year, which has been acquired by GM.
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Coming back to new EVs, Hyundai will launch its first first locally produced EV in India next year and production for this new EV will start at the end of this year in Chennai. Hyundai has revealed that this would be an electric SUV and it will most likely be the Creta electric.
The Creta electric, which has been spotted testing, would be its first locally manufactured EV and would be its key volume player. Not just that as Hyundai India will launch no less than 5 new EVs by 2030 along with locallising its E-GMP platform which underpins global EVs. This is a bespoke electric architecture which would be flexible in design and packaging.
To do that, localisation of EV components is also important and recently, they signed an MOU with Exide Energy Solutions Ltd. for local production of batteries for Indian EV models like the upcoming Creta EV.
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