Through 2030, it is projected that the Indian market for electric cars (EVs) would grow “strongly and steadily” as more companies focus on this sector, assisted by strong government leadership. Unsoo Kim, the managing director (MD) of Hyundai Motor India (HMIL), announced.
Kim’s optimism is consistent with a drop in India’s sales of electric vehicles over the previous three months.
September’s EV sales saw an 8% year-over-year (Y-o-Y) decrease, per data from the Federation of Automobile Dealers Associations (Fada).
The Creta EV, the company’s first high-volume EV, will be on sale in the last quarter of the current fiscal year, according to HMIL CEO Tarun Garg.
He claimed that it will be a “very big game changer” and that it might completely destabilize this section. “We believe that offering the consumer a vehicle of this magnitude from Hyundai’s lineup will reassure them that making the switch to electric power is the right decision,” Garg added.
The Indian EV market, according to Kim, is still in its “early stages of electrification.”
We believe that the primary forces behind the robust and consistent expansion of the Indian EV market by 2030 will be the government’s resolute leadership and the attention that various OEMs are paying to this market. HMIL has access to global battery technologies. As a result, we are developing an EV ecosystem. There will be a release of four new models. Our first high volume EV, called Creta EV, will arrive in the latter quarter of the current fiscal year, he said.
