Hyundai's Electrification Drive in India: Creta EV and Beyond

Hyundai Motor India is gearing up to launch electric vehicles (EVs) across mass and premium segments, with a localized supply chain. The company plans to introduce the Creta EV within the fiscal year, alongside four more models over the next few years, supported by substantial investment and expanding manufacturing capabilities in India.

Hyundai Motor India is making significant strides in the electric vehicle space, announcing plans to launch models across both mass and premium segments supported by a localized supply chain. The company is set to introduce its Creta EV in the fourth quarter of the fiscal year while eyeing the release of four additional EV models over the coming years.

In an ambitious move, Hyundai's Indian arm will benefit from its parent company's global EV and battery technologies. The domestic branch aims to localize components such as battery packs and powertrains to bolster its EV strategy, which will be reinforced by significant investments in EV charging infrastructure.

The company has announced its mega IPO to raise Rs 27,870-crore on October 15, intending to channel investments into enhancing manufacturing capacity, including automating its Pune facility. This strategic pivot towards electrification places Hyundai in a strong position to meet increasing customer demand and expand its market share both domestically and in export markets.

(With inputs from agencies.)