Hyundai India has announced its ambitious plans to significantly expand its electric vehicle (EV) lineup in India starting from 2025. The company aims to introduce more electric cars into the Indian market. Especially, equipped with localized battery packs and improved charging infrastructure. This move comes as the e-car market is poised to reach an inflection point in 2025. Further, signaling a pivotal moment for the automotive industry.
Strategy for EV Expansion of Hyundai India
Hyundai’s strategy focuses on reducing the cost of EVs in India, making them more accessible to a wider range of consumers. The company aims to capture a substantial market share of 20-22% of EVs by 2030. Further, aligning with the Indian government’s target of achieving a 30% market share for electric vehicles by the same year.
To support its expansion plans, Hyundai is investing ₹700 crore in setting up a battery assembly plant in Chennai, Tamil Nadu. The facility, scheduled to commence operations in 2025, will have an initial annual capacity of 75,000 battery packs. This investment reflects Hyundai’s commitment to localizing manufacturing and contributing to the growth of India’s electric vehicle ecosystem.
SUV Growth Trajectory of Hyundai India
In addition to its electric vehicle ambitions, Hyundai is also focused on bolstering its SUV lineup in India. The company aims to increase the contribution of SUVs to its total sales volumes. Basically, with a target of 65% in the calendar year 2024, up from 60% in 2023.
One of Hyundai’s standout performers in the SUV segment is the Creta. Which has garnered significant success in the Indian market. With over 9.80 lakh units sold in the past eight years. Moreover, the Creta has established itself as a market leader. Especially, by achieving an impressive sales milestone of one unit sold every five minutes. The SUV’s popularity is attributed to its value proposition and segment-first features. Further, with the 2020 model emerging as the most successful iteration to date.
The Arrival of Creta N Line
Building on the success of the Creta, Hyundai has raised the bar with the Creta N Line variant in India. The Creta N Line features sportier front and rear bumpers, along with distinctive red accents. Unlike the standard facelifted Creta, the N Line variant will offer an all-black interior color theme. Further enhancing its sporty appeal.
The Creta N Line appeal to enthusiasts with its manual gearbox option and performance-oriented design elements. Hyundai’s decision to introduce this variant underscores its commitment to offering diverse choices to consumers and catering to different preferences within the SUV segment.
Conclusion
In summary, Hyundai India’s dual focus on electric vehicles and SUVs demonstrates its proactive approach. Especially, addressing the evolving market trends and consumer preferences. By investing in localized manufacturing and introducing innovative product offerings, Hyundai aims to strengthen its position as a key player in India’s automotive landscape.