To step up with auto major Maruti Suzuki’s performance, Hyundai Motor is bullish to introduce its electric vehicles in India.
South Korean auto major Hyundai Motor is planning to introduce its full range of electric vehicles in India as it tries to expand its product offerings to compete with market leader Maruti Suzuki for a bigger share of the Indian roads.
Hyundai has commissioned a study to explore manufacturing of electric vehicles in India. This announcement comes after Maruti Suzuki’s declaration of manufacturing its first electric vehicle in 2020.
ETAuto reported that YK Koo, MD of Hyundai Motor India, said to the English Daily that Hyundai’s aim is to have a range of electric cars in India and cater to buyers in different price segments. Hyundai is currently studying various aspects of battery manufacturing and sourcing parts from the local market.
Koo told ET that after the assembly of Kona EV, the auto major are exploring the possibilities of manufacture compact SUVs and sedan electric vehicles in India since Hyundai wants to have deeper footprints in the Indian electric vehicle market and are eagerly waiting for government’s support in this direction.
Much like most of the market, Hyundai Motor India had developed hybrid vehicles for the domestic market, but a spike in GST rate for hybrid vehicles compelled the South Korean carmaker to shelve its hybrid vehicles completely and shift to electric ones.
