Hyundai is planning to bring in six electric vehicles (EVs) into India by 2028 and these cars will serve all segments — from the mass market to premium customers — and could the move make it the disruptor in the Indian market?
This would be a smart move by the South Korean company as it would offer a wider EV choice to its customers, which could turn out to be a game changer for its sales.
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| Will Hyundai i20 come in its electric avatar soon? -- Photo: Hyundai.com |
Hyundai’s mega EV investment
In a bid to take this plan forward, Hyundai will be pumping in Rs 4,000 crore (Rs 40 billion) to bring in EVs of almost all body types, including an SUV, a sedan as well as a compact utility vehicle (CUV).
The company will focus on three aspects so far as the EVs go — intelligent technology, sustainability as well as innovation.
Hyundai Ioniq 5
The South Korean auto giant recently introduced its EV in India — the Ioniq 5 — which comes at a whopping price of Rs 45 lakh (Rs 45,00,000).
We are not sure whether introducing a premium electric car as its debut product is a judicious step by Hyundai.
What next for Hyundai?
But next in line could be a facelifted version of the Kona electric car, which may be assembled in India.
“In 2019, we rolled out the Kona electric and made some good experiments. We are charged up as the customer feedback was very good,” said a top company executive.
So far as Hyundai’s mass market EV plans go, it is believed the vehicles could be based on the current internal combustion engine (ICE) platform — such as the i10 NIOS and the new generation i20 or even the Aura sedan, perhaps.
According to the executive, the mass market EVs could still offer a distance of a whopping 350 km an hour on a single charge.
EVs based on the E-GMP platform
According to the company, the high-end Hyundai EVs will be based on the Electric Global Modular Platform (E-GMP) for battery electric vehicles. And, the first to roll out from this stable was the Ioniq 5.
Hyundai plans to localise some components of this platform but that may happen in the later years of its EV journey.
Some advantages of this platform are that it will help Hyundai develop cars with a flat floor, sleek cockpit as well as a flexible cabin that is spacious.
However, Maruti Suzuki is also coming up with a special EV platform and we need to see what its USPs would be.
Estimated EVs on road in 2028
According to Hyundai, the Indian EV market size may touch 1.75 lakh (175,000) vehicles itself in five-six years.
But things like battery cost, charging infrastructure and government subsidies are some factors that would determine the speed of EV adoption in India.
Hyundai’s growing charging infra
Hyundai has been trying to boost EV infra in India. It is providing a 7.7kW AC home charger to customers and has also established AC fast-charging stations in over 100 dealerships across 15 cities.
It is also providing charging assistance 24 hours a day throughout India, though this set up is in its nascent stages now. So, Hyundai does have a big plan on EVs for the Indian market.
E-Vroooom’s views
With Hyundai’s mega plans to roll out six electric vehicles by 2028, and that too with an EV for all segments, it seems that the South Korean car giant wants to play disruptor in India’s electric vehicle space and make an attempt to dislodge Tata Motors from its pole position.
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