Hyundai plans to launch an affordable Electric Car in India
Hyundai is planning to bring 6 new battery electric cars in India by 2028. The new EVs will likely include mass-market to premium hatchbacks and SUVs. The South Korean automobile maker is also working on an affordable small electric car for the Indian market, said new reports. Hyundai has reportedly planned to invest Rs 4,000 crore for this EV project. The Hyundai Ioniq 5 electric crossover will be the first model to come under this strategy that will rival the recently launched Kia EV6. The model will be released to the market in the second half of 2022.
The company has also started development work for a new small electric car that will target the mass-market. Hyundai’s new small electric car will likely be an affordable EV as the company is planning to achieve high localisation level. Tarun Garg, Director Sales, Marketing and Service of Hyundai India said that the automaker will source and produce components locally in order to keep the manufacturing cost under control. He also revealed that the new Hyundai electric car will be launched “at the right price” and time.
Hyundai is currently working on different aspects for its upcoming EV including charging ecosystems, sales network to the assembly and manufacturing process. As per the official statement, the new Hyundai affordable electric car will arrive when the charging ecosystem will be ready. According to reports, the new Hyundai EV will be a small SUV and will be priced below Rs 10 lakh. The new affordable electric car might deliver a range of around 200km.
Meanwhile, the upcoming Hyundai Ioniq 5 which has been built on the E-GMP platform features a modularized battery system. It provides a low centre of gravity. Here, the Ioniq 5 will be imported via CBU route and placed as Hyundai’s flagship EV. The electric crossover will be offered with single motor and dual motor setup and two battery packs – 72.6kWh and 58kWh.