Hyundai EV India launch to take place in 2019; company yet to decide between Ioniq and Kona.
Making their debut with the Santro in 1998, Hyundai Motor India Ltd. have been present in the country for two decades now. The Korean company aims at a 17% market share by 2020 and has solid plans to achieve the same. Besides setting up a new office building in Gurugram, Hyundai plans to launch 9 products in the country by 2020. It is also considering an investment of over Rs. 6300 crores to be used for new products, powertrain development and so on.
Two of the nine products will be facelifted versions of the current models on sale while there are four newer generation models of the current portfolio to be launched by 2020. Hyundai will be launching two all-new products and one electric vehicle as well. One of the new product will be launched this festive season and is said to revive the Santro brand which was discontinued in 2014 while the other is a compact family car.
The EV will be introduced in 2019. At the moment, Hyundai is conducting a market research to decide which model to launch as their first EV. The company is considering electric versions of the Ioniq sedan or Kona SUV for our market. To be imported via the CKD route, the EV will be assembled locally at Hyundai’s Chennai facility for the time being.
The automaker is also open to sourcing batteries locally or importing them from China or South Korea. For EVs to gain popularity, the company believes that a lower GST rate and government support will prove to be of utmost importance.
Hyundai EV India Launch
– Hyundai EV India launch in 2019, to come via CKD route
– Company considering Ioniq sedan and Kona SUV for India
– A total of 9 products lined up for launch by 2020
– Over Rs. 6300 crore investment to be made till 2020
Source – ETAuto.com