Hyundai Motor India said that it would be introducing all electric vehicle (EV) models in both the mass and premium sectors, with the support of a domestic supply chain. The company has revealed that it will launch a large initial public offering (IPO) on October 15 with the aim of generating ₹27,870 crore. Furthermore, Hyundai intends to unveil the much anticipated Creta EV in the fourth quarter of the current fiscal year. The company plans to launch four more electrified cars in the upcoming years.
Unsoo Kim, Managing Director of Hyundai Motor India (HMI), emphasized India’s early stage of electrification and expressed optimism that the country’s EV market will grow robustly by 2030 as a result of the government’s strong initiatives and various OEMs’ focus on electric vehicles. Kim stressed that HMI’s access to global EV and battery technologies from Hyundai Motor Company (HMC) facilitates the launch preparations for full EV vehicles, including the Creta EV, this fiscal year.
In addition to electric vehicles, the company is placing a high premium on local supply chains for vital components including battery packs, powertrains, and battery cells. Kim continued, “We are also investing in EV charging infrastructure,” emphasizing the company’s commitment to building an ecosystem around electric cars. Tarun Garg, the chief operating officer, reaffirmed this view, stating that HMI has good intentions for electric cars and that the launch of the Creta EV would be followed by the release of three further models, which will significantly boost EV sales.
