Hyundai to Launch Four EV Models in India

Hyundai Motor, one of the major automobile companies, plans to launch four electric vehicles (EVs) in the country. These will also include the electric version of the company’s most sold SUV, the Creta. EV sales have grown rapidly in the last few years.

This information is in the documents submitted by Hyundai with market regulator SEBI to raise funds through an Initial Public Offer (IPO). The company plans to create a local supply chain for important components of EV. Hyundai has set up a local supply chain at its manufacturing plant near Chennai in Tamil Nadu. EV Hyundai has leased a part of its battery assembly plant to Hyundai Motor Group firm Mobis. This will reduce the cost of import of Hyundai’s battery pack.

The company plans to launch hybrid cars in India by 2026. South Korea’s Hyundai Motor Group has changed its strategy and started exploring possibilities other than electric vehicles (EV). Hyundai Motor Group includes Hyundai Motor and Kia. It is considering bringing a hybrid sports utility vehicle of the same size as its best-selling mid-size Creta SUV in India. Hyundai and Kia target to launch hybrid SUVs in 2026 or 2027. Along with this, the plans of these companies regarding EV are also intact.

Both these automobile companies sell petrol and diesel cars in the country as well as imported EVs like IONIQ 5 and EV6. They plan to launch their first Made in India EV in 2025. Recently, Creta sales crossed 10 lakh units. In the country company This first SUV of Creta was launched almost nine years ago. Despite the launch of models of many automobile companies in this segment, Creta has received a good response. It competes with Kia’s Seltos, Maruti Suzuki’s Grand Vitara, Tata Motors’ Harrier, Mahindra’s Scorpio-N and Skoda’s Kushaq. Some updated versions of Creta have been introduced in the last few years. Recently, the company introduced its new version.
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