Hyundai will invest in India and plans to put six electric vehicles into production by 2028

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South Korea's Hyundai motor giant plans to invest about Rs 400 million to produce about 6 electric vehicles in India until 2028. The company plans to launch hybrid models based on its existing series in the next few years, as well as new models based on its Electric Global Modular Platform (E-GMP).

In an interaction with Peptide Technology Limited (PTI), Kim, general manager and CEO of Hyundai Motor India, said the company is preparing to significantly expand its business in the Indian electric vehicle sector and is expected to launch the first of six new products next year.

By 2028, the company will invest around Rs 4 billion to develop six models.

"As we continue to redefine the mobile space, today we reaffirm our commitment to our customers in India – expanding our automotive EV product line to six in the Indian market by 2028," Kim said. ”

He said the company is leveraging experience beyond mobility and has a strong focus on smart technologies, sustainability and innovation.

Kim pointed out: "Following this line of thinking, we will launch a dedicated pure electric vehicle platform in India, E-GMP, as well as a modification platform for battery electric vehicles. ”

According to Kim, the company's six all-electric series of vehicles will target multiple market segments, including the mass market and the high-end segment in India.

Kim said the automaker will also launch BEVs of different body types, including SUV bodies, by 2028, providing customers with a wide range of models to choose from.

The company's electric global modular platform platform has a large battery capacity of up to 77.4 kWh. It also offers two-wheel drive and four-wheel drive features, improved handling and handling to achieve a top speed of 260 km/h.

Asked about the timeline for launching the first product under the new project, Kim said: "This year is coming to an end, and there are only a few weeks left. Hopefully starting next year. Hyundai has already sold an electric vehicle model in India, Kona Electric. （Kona Electric）。

Kim noted that Hyundai is considering developing a complete ecosystem for electric vehicles domestically and is currently focusing on localization of the production process.

In addition, Kim added that efforts are being made to find suitable partners for basic charging facilities and other charging products.

Kim said: "Our R&D team and purchasing department have done some market research. We are working hard to explore partnerships with local suppliers... We've screened out a number of candidates and we're evaluating their abilities. ”

Production of electric vehicles will take place at the company's plant in Chennai, he said, adding that in the initial stages, major components such as batteries can be sourced from abroad.

Kim said: "We are in discussions with some global battery manufacturers in China and South Korea. It's unclear if local manufacturing will occur in the coming years. I hope to localize battery production in a few years. ”

He noted that the electric vehicle sector is currently smaller in the country but is expected to grow in the coming years.

In India, sales of electric vehicles are less than 1 percent of total sales, but customers will understand the benefits of electric vehicles and the industry will eventually grow, Kim said.

Translator: Zhao Yanjie

Reviewer: Tan Yimin

Editor: Rui Wang