Hyundai has announced its roadmap for driving India’s electric mobility revolution. Hyundai India announced their plans to invest INR 4,000 crores in India through 2028 and to launch six electric vehicles based on the E-GMP global platform. The new EVs will be a mix of new and existing models.
Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC) and India’s first smart mobility solutions provider. Since its inception, HMIL has been the number one exporter of cars from India.
HMC’s global export hub is HMIL, which exports to 88 countries across Africa, the Middle East, Latin America, Australia, and the Asia Pacific. The company currently has 522 dealers and 1,298 service points across India.
Over the last two and a half decades, Hyundai Motor India has delighted customers with the most innovative and technologically advanced mobility solutions. Currently, there are just a few electric vehicles available in India like the Mahindra eVerito, Tata Motors’ Nexon EV, MG’s ZS EV, and Hyundai intends to fill this gap with its BEV models.
Hyundai Motor India Ltd. MD/CEO S S Kim commented on the announcement, saying that the company has been a leader in the electric mobility revolution in India, introducing India’s first electric SUV Kona Electric, in 2019. Our commitment to the Indian market continues today as we announce the expansion of our BEV lineup to 6 vehicles by 2028″, he continued.
According to Hyundai Motor India, it will expand its electric car lineup to six BEVs by 2028. The South Korean automaker will also introduce its dedicated EGMP modular architecture in India. Hyundai will build electric cars for the Indian market based on the E-GMP architecture.
In addition to launching new electric vehicles in India, the automaker aims to develop an EV charging infrastructure. The forthcoming electric vehicles will come in various body styles, targeting both mass market and mass premium segments.
Hyundai hopes to achieve this through collaboration with local companies. With the emergence of new players in the two-wheeler segment, the Indian EV market is rapidly growing. However, the passenger vehicle segment is yet to see more remarkable penetration.
Moreover, Hyundai said the upcoming electric cars for the Indian market would see a higher degree of localization in production and pricing. With the Kona EV already released in India, Hyundai is now looking to tap an even larger market with a broader portfolio of vehicles. Hyundai also wants to take advantage of the first-mover advantage with this strategy.
