The Creta EV, which is one of India’s most anticipated models, is set to be a key driver in expanding Hyundai’s EV portfolio.
After its launch, Hyundai plans to introduce three more EV models, further boosting their presence in the growing electric mobility market.
The South Korean global carmakers Kia and Hyundai seemed to have regained their strong momentum again with a plan to sell more than 100,000 electric vehicle units in the country by the end of this October. According to Yonhap news agency, both companies were reported to have sold around 91,348 units from January to September, which highlights an escalation of 30 percent compared to the previous year.
Hyundai Motor Group owns a portion of Kia Motors, and Kia has a stake in some of Hyundai’s subsidiaries. together, they outline strategies to boost the growth of EVs globally. As per the report, sales of Hyundai’s EV units augmented by 4.5 percent year-on-year to 48,297 units, while Kia experienced a sharp 80.3 percent growth, reaching 43,051 units.Automobile research experts products that both companies together can surpass sales beyond 1,20,000 by the end of this year.
Speaking about the growth potential of the Indian market, Hyundai Motor India’s managing director (MD) Unsoo Kim feels that until 2030, the nation will witness strong and steady growth. Kim also thinks that India is now at the early stage of electrification, but strong government policies coupled with incentives and a deep focus on growing the domestic market could help India lead the value chain.
Moreover, Kia is also done with the completion of Hyundai’s new manufacturing unit purely for electric vehicles, which has a production capacity of 1,50,000 units. The 60,000-square-meter facility received an investment worth $304.2 million. The global production of Kia’s compact SUV, EV3, commenced in the first half of this year, and by 2025, the company plans to unveil EV4, a mid-sized electric sedan.
Hyundai focuses on various technologies to cater to the evolving automotive market. Their efforts are not limited to electric vehicles (EVs); they also invest in hybrid technology, which bridges traditional internal combustion engines (ICE) and fully electric powertrains. As Kim mentioned, Hyundai is leveraging its access to various advanced technologies across petrol, diesel, compressed natural gas (CNG), plug-in hybrid (PHEV), and hydrogen fuel cell vehicles. This versatility allows the company to address the varying demands of global and regional markets.
In India, Hyundai Motor India is taking significant strides in the EV space, with Tarun Garg, the company’s Chief Operating Officer, outlining an ambitious electric vehicle plan. The Creta EV, one of India’s most anticipated models, is set to be a key driver in expanding Hyundai’s EV portfolio. After its launch, Hyundai plans to introduce three more EV models, further boosting its presence in the growing electric mobility market.
