Hyundai intends to launch 6 electric cars over the next 6 years, including some that are affordable priced.

Hyundai appears to intend to launch an affordable, compact electric vehicle in India before premium models in the coming years.

Hyundai intends to launch 6 electric cars over the next 6 years, including some that are affordable priced.
electric cars

Hyundai, the second-largest car manufacturer in India, has announced plans to enter the country's affordable electric vehicle (EV) market. According to Reuters, citing Hyundai's sales director Tarun Garg, the company appears to be intent on expanding its presence in the Indian EV market, with plans to begin with a compact, affordable EV in India in the coming years. This, however, will be part of the company's larger plan to launch more EVs in India as the country gradually warms up to the use of electric vehicles on the road.

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Hyundai's electric vehicle strategy in India: localization and more

According to a Hyundai executive quoted by Reuters, the company intends to launch a compact and affordable EV in India in the coming years, kicking off the company's formal EV roadmap in the country. It already has the Hyundai Kona electric SUV in India, but the car's premium positioning, limited driving range, and lack of a nationwide EV charging network meant that the Kona was only a marginal seller.

As part of a $512 million investment in India over the next six years, the company now intends to produce a heavily localized EV specialized for Indian needs. Hyundai's Garg claims that by 2028, the company will have six new EV models on Indian roads. A portion of the planned investment will also go toward establishing key infrastructure components needed to adequately support EVs in India, such as a fast-charging network, a local assembly and manufacturing process, and a new sales network.

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Electric vehicles have grown in popularity in India, with Indian automaker Mahindra planning to launch its own XUV900 electric SUV in the coming years. The company has already shown teasers of its upcoming EV ahead of a possible announcement on August 15 this year.

Other companies, such as Tata Motors, already have EVs on the road in India, but the public infrastructure is still in its infancy. This, according to Hyundai, could be changed by taking a top-down approach, in which market innovation first targets the affordable and mass segments before introducing premium options.

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