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Hyundai to invest $512 million in India for expansion of its Electric Vehicles

Hyundai, India’s second-largest automobile manufacturer, has indicated that it intends to enter the country’s affordable electric vehicle (EV) market. According to a Reuters report citing Hyundai’s sales director Tarun Garg, the company appears to be committed to expanding its presence in the Indian EV market, with plans to begin with a compact, affordable EV in the coming years. However, as India gradually warms to electric vehicles on the road, this will be part of the company’s larger plan to launch more EVs in the country.

Affordable Hyundai Electric Vehicles coming soon…

According to Reuters, Hyundai plans to introduce a compact and affordable electric vehicle in India in the coming years, which will kick off the company’s formal EV roadmap in the country. The Hyundai Kona electric SUV is already available in India, but due to its premium positioning, limited driving range, and lack of a nationwide EV charging network, the Kona has been a bit-part seller at best.

Now, as part of a $512 million investment in India over the next six years, the company plans to produce a heavily localized EV specialized for Indian needs. Hyundai’s Garg claims that by 2028, the company will have six new electric vehicles on Indian roads. A portion of the planned investment will go toward establishing key components of the infrastructure needed to support electric vehicles in India, such as a fast-charging network, a local assembly and manufacturing process, and a new sales network.


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Vishwamoorthy
Vishwamoorthy
Pursuing Engineering. Content writer by passion to technology. One who likes following mobile technology and it's revolutions on years coming. Keeps improving everyday!

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