Hyundai wants to have “deeper footprints” in Indian EV market
In a recent announcement, South Korean automaker Hyundai Motor has revealed that its plans to launch a full range of electric vehicles (EVs) for the Indian market. The move will enable Hyundai to offer more products to Indian customers, thereby posing a more substantial competition to Maruti Suzuki which presently leads the country’s auto market.
According to the announcement, Hyundai has efforts underway to launch its globally successful Kona SUV in India in 2019-second-half, by importing CKD packs to the country. In addition, the automaker has also commissioned a study to analyse EV production in India.
With Hyundai planning a worldwide launch of 38 green vehicles -- including pure EVs, hybrid EVs, and plug-in hybrid vehicles -- till 2025, the automaker has said that some of its forthcoming EVs will be suit the needs of Indian customers.
About Hyundai’s plans for the Indian market, Hyundai Motor India’s Managing Director YK Koo said that the automaker is currently in the process of learning more about the various aspects of battery manufacturing and sourcing components from the local market.
Koo also said that the forthcoming Kona EV marks the “starting point” for Hyundai’s plans to have a full EV range in India and cater to buyers in different price segments, and added: “We want to have deeper footprints in the Indian electric vehicle market and are eagerly waiting for government’s support in this direction.”
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Against the backdrop of the fact that investors’ interest in the nascent electric-vehicle (EV) market is somewhat lacklustre, K.C.