Three Electric Vehicles (EVs) from Hyundai India are Set to Arrive in India Soon; a Designated Investment of ₹32000 Crore Secured: Hyundai India

Three Electric Vehicles (EVs) from Hyundai India are Set to Arrive in India Soon; a Designated Investment of ₹32000 Crore Secured: Hyundai India

Hyundai Motor India Limited has announced a significant long-term strategy for the Indian electric vehicle (EV) market. The South Korean automaker has committed an impressive ₹32,000 crore towards this strategy, signalling a strong commitment to leading the EV transition in India.

During Hyundai's Initial Public Offering (IPO) event, the company revealed plans to launch three dedicated EV models in the Indian market. While specific launch dates for these models are yet to be announced, the company has confirmed that one of these models will be an electric variant of its best-selling SUV, the Creta EV, which is slated for launch in Q4 of 2025.

The Creta EV is expected to play a significant role in Hyundai's strategy to dominate the growing Indian EV market. The company's focus on automation at its upcoming Pune plant, scheduled to begin operations in the second half of 2025, positions it as a key player in India's evolving automotive landscape. This plant will be highly automated for efficient EV production.

Hyundai's commitment to localising its EV supply chain in India is also evident. The investment will be used for ramping up production capacity, localising EV component manufacturing, and strengthening Hyundai's R&D capabilities in India. This localisation strategy aligns with the government's vision of 'Make in India' for EVs.

The company's plans for the Indian EV market also include the launch of three more electric vehicles at an unspecified future date. These upcoming EV models are expected to diversify Hyundai's EV portfolio, appealing to a broad spectrum of Indian consumers. However, the exact details of these EVs remain under wraps, but their development reflects Hyundai's commitment to rapid expansion in the electric mobility space.

It's worth noting that Hyundai India reported a 10% decline in auto sales for September 2024, but this information is not directly related to the electric vehicle plans mentioned in the article. The price band for Hyundai's IPO has been set at ₹1,865-₹1,960 per share.

Earlier reports suggested the Creta EV could arrive as early as next year, but the company has not confirmed this timeline. No further information is provided about Hyundai's plans for other EV models or investments beyond the Pune plant.

Hyundai's long-term EV strategy involves significant financial commitment, underscoring its confidence in the Indian market's potential for EV growth. As the automaker moves forward with its plans, it will be interesting to see how Hyundai's investments and focus on EVs shape the future of the Indian automotive industry.

Read also:

• Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
• Is Maruti's reign over the SUV market being challenged by Mahindra's aggressive move to snatch the top spot?
• Social Security Administration Abandons Plan for Electronic Payments: Important Information for Recipients of Benefits
• Increased energy demand counters Trump's pro-fossil fuel strategies, according to APG's infrastructure team.