Hyundai India to invest $512B to launch six EV cars by 2028 in India

Main Image
  • Like
  • Comment
  • Share

Popular carmaker Hyundai India is finally breaking into the affordable electric vehicle (EV) market in India. It has promised a considerable investment towards tapping into the EV space in the country with its aggressive price tags. It has plans to launch six EV models in India by 2028 with an estimated investment of INR 40 billion towards pumping up the process.

Hyundai India to tap into the EV market in India

According to Tarun Garg – Hyundai India Sales, Marketing, and Service Director in an interview with Reuters, the carmaker will take a top-down approach when it comes to EVs whereas its internal combustion cars have followed the bottom-up approach with aggressive pricing at the start followed by expensive models as it went ahead with various models.

Hyundai India to invest $512B to launch six EV cars by 2028 in India

Circling back to the EV space, Hyundai India is ready to pump in INR 40 billion (or $512B) in the Indian EV space where it will launch six EV models over six years till 2028. It will launch both electric and ICE powertrain models in India although EV is currently the niche it will aggressively push forward with various models.
India has one of the most promising EV markets in the world thanks to its growing popularity. Many carmakers, be it BMW, MG Hector, or TATA Nexa among others, have already launched their EV models. Hyundai India will soon launch both IONIQ 5 and Hyundai Kona EV which will be followed by cheaper models. This is in line with Tarun’s comment that the company is targeting a top-down approach within the EV sphere.

Hyundai India is currently working to resolve issues related to EV cars in India which include a charging ecosystem, and a sales network among others that will help it to roll out EV cars in the future. Furthermore, Hyundai India is going for localization for sourcing and production of the vehicles to keep the expenses on the lower side.

Note that there’s no timeline on when the EVs will arrive in India although Tarun did mention that the time should be right when the vehicle is all set to make its Indian debut.

Related Articles

ImageRealme Buds Air 6 to launch in India on May 22 alongside the GT Series Smartphone

Realme has confirmed that it will launch the next generation TWS Buds, Realme Buds Air 6 on 22nd May. The brand is all set to bring the GT Series smartphone back to India along with which a new wearable will also be announced. Ahead of the launch, Realme has confirmed some details about the Buds …

ImageHyundai Creta EV could reach the Indian shores by Q1 2025

Hyundai is possibly working on a new electric car variant of the SUV Hyundai Creta. Rumours have it that the EV version of the Hyundai Creta will make its debut in the Indian market by 2025. A report by Autocar suggested that the EV is being developed under the project SU2i EC, and Hyundai is …

ImageTata Motors rides on EV success to surpass Hyundai to become second-largest automaker in India

Tata Motors has registered a record sales number in the year 2021 and has achieved the second position in the list beating Hyundai. The indigenous car maker has sold 3.31 lakh units of Tata cars in the previous year of 2021 which is the highest ever in number for the company.  What do figures tell …

Image2024 Maruti Suzuki Swift With New Engine, Design, and Tech Launch in India: Price, Powertrain, and Safety Features

One of the most awaited cars in the Indian market has finally arrived and as expected it has left everyone flabbergasted. We are talking about the 2024 Maruti Suzuki Swift hatchback, the car has received a facelift after six years and it’s worth noting that the company has made some significant changes to lure more …

ImageBWM i5 EV Debuts In India With A Claimed Range Of 516 Kilometers: Check Details And Price Here

The German automaker BMW has launched the BMW i5, an electric sedan in India. With a sporty look and a capable drivetrain, the car costs over a crore in India (ex-showroom price). Check out more details about its design, exterior, interior, drivetrain, and battery pack here. The BMW i5 is based on the new-gen 5 …


Be the first to leave a comment.