• Login
AutoEVTimes
  • Home
  • News
    • India EV News
    • International EV News
    • Latest EVs India
    • Latest EVs International
    • Policy
  • EV Tech
    • Autonomous Driving
    • Battery Technology
    • Charging Station
    • Drive Systems
  • EV Products
    • ADAS
    • Automotive Lighting
    • Automotive Motors
  • Editor’s Desk
    • Research
    • Interview
    • Articles
    • Startup
    • Events
No Result
View All Result
HealthNews
No Result
View All Result
Home News India EV News

Hyundai Pledges Local Investment for Electric Vehicle Sector Growth

Aditi Singh by Aditi Singh
October 24, 2024
in India EV News, News
0
Hyundai Pledges Local Investment
0
SHARES
142
VIEWS
Share on FacebookShare on Twitter

Hyundai has reiterated its commitment to the mass-market electric vehicle market by announcing plans to launch four EVs over the next three years, starting with the eagerly anticipated Creta EV. According to Tarun Garg, COO of Hyundai Motor India, the Creta EV will launch in the upcoming quarter. Additionally, the company is committed to accelerating the localization of parts for electric vehicles and cars with internal combustion engines.

Garg highlighted two crucial elements for Hyundai’s aspirational expansion aspirations to be realized. Hyundai’s two current facilities in Tamil Nadu might increase their capacity from 824,000 units to 1.1 million units by 2028 after acquiring the Talegaon complex in Maharashtra. An rise in numbers will translate into a larger market share and profit. This leads us to the second problem, which is that since India is a manufacturing powerhouse for over 80 countries, Hyundai is focusing on exports. The capacity expansion will provide the South Korean manufacturer with much-needed boost, as approximately 20% of the output is exported.

The price and applicability of electric vehicles (EVs) depend heavily on the location of batteries and componentry. Hyundai therefore plans to manufacture necessary parts in India and construct the necessary electrification infrastructure.

Hyundai intends to do this by investing Rs 32,000 crore over the next eight years to create a regional center for EV development, which will involve the production of battery packs in India. This effort aims to make EVs more affordable and accessible to the general public.

Tags: batteriesbattery packsElectric VehicleEV newsev times newsHyundai
Previous Post

Terra Charge Secures 64 New Clients, Boosts Hospitality Alliances

Next Post

Ashok Leyland subsidiary bags order for 500 Electric Buses from MTC, Chennai

Aditi Singh

Aditi Singh

Next Post
500 Electric Buses from MTC

Ashok Leyland subsidiary bags order for 500 Electric Buses from MTC, Chennai

Recommended Stories

Mufin Green

Mufin Green & Omega Seiki Mobility to Finance 7,500 E3Ws by 2024

February 11, 2023
E- Mobility Week

Telangana to show-next-gen EV technologies at e-mobility week

July 4, 2024
NEXUS Automotive International

G. Srinivasa Raghavan Appointed Chairman of NEXUS Automotive International

September 10, 2024

Popular Stories

  • Patanjali EV

    Patanjali Enters EV Market with Affordable Electric Scooter

    0 shares
    Share 0 Tweet 0
  • Ola Launches S1 X Scooters with 190km Range, Warranty

    0 shares
    Share 0 Tweet 0
  • Maruti Suzuki Unveils Alto Electric at ₹4 Lakh, Promises 560km Range

    0 shares
    Share 0 Tweet 0
  • The Electric Version of the Thar SUV, the Mahindra Thar.e Vision, was Unveiled in Cape Town

    0 shares
    Share 0 Tweet 0
  • Vaisala Leverages Weather Data to Enhance Electric Vehicle Range

    0 shares
    Share 0 Tweet 0
AutoEVTimes

AutoEV Times provides the latest Electric Vehicles News, EV Business, EV Products etc from around the world.

Recent Posts

  • Exploring the Rapid Growth of the Electric Utility Vehicle Market
  • Will Electric Buses Replace Diesel Buses Completely by 2030?
  • Wardwizard, XiCon to Deploy 7,500 E-Scooters

Categories

  • ADAS
  • Articles
  • Automotive Electronics
  • Automotive Lighting
  • Automotive Motors
  • Autonomous Driving
  • Battery Technology
  • Charging Station
  • Drive Systems
  • EV Products
  • EV Tech
  • India EV News
  • International EV News
  • Interview
  • Latest EVs India
  • Latest EVs International
  • News
  • Policy
  • Research
  • Road Safety
  • Startup
  • Uncategorized
  • Contact Us
  • Events
  • Front
  • Guest Post Guidelines
  • Home
  • Privacy Policy
  • Sample Page
  • Terms of Service

© 2016 - 2024 AutoEV Times | All Rights Reserved.

No Result
View All Result
  • Contact Us
  • Events
  • Front
  • Guest Post Guidelines
  • Home
  • Privacy Policy
  • Sample Page
  • Terms of Service

© 2016 - 2024 AutoEV Times | All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In