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Hyundai Motor Group has ambitious plans for India, aiming to become a major electric vehicle (EV) player by 2030. Here’s a breakdown of their strategy:
Increased Production Capacity
- Hyundai Motor Group CEO Euisun Chung visited India to discuss future mobility strategies.
- The goal is to reach a combined production capacity of 1.5 million vehicles annually for Hyundai and Kia brands in India.
- Expansion of EV lineup and building an EV ecosystem are key parts of the plan.
New Manufacturing Hub
- Hyundai’s recently acquired Pune plant (from GM) will play a critical role.
- The Pune plant is being upgraded to produce 2 lakh units annually, starting from the second half of 2025.
- This will combine with Chennai plant’s current 8.24 lakh unit capacity for over 1 million units annually.
Kia India Expansion
- Kia India’s annual production capacity will be expanded to 4.31 lakh units by the first half of 2024.
- Together, Hyundai and Kia aim for a combined production capacity of 1.5 million units per year.
Hyundai Creta Electric
- Hyundai’s first locally-made EV will likely be the Creta EV, spotted testing in India.
- Mass production of the Creta EV will begin by the end of 2024 at the Chennai plant.
- Hyundai aims to launch five new EVs in India by 2030.
EV Charging Infrastructure
- Hyundai is committed to expanding India’s EV charging infrastructure by 2030.
Kia’s Electric Push
- Kia India is also planning its first local EV, expected for production in 2025.
- Kia aims to launch more EVs in India in the future.
Local Battery Production
- Hyundai and Kia signed an MoU with Exide India to explore local battery manufacturing for their EVs.
Hyundai’s Commitment to India
- Hyundai acknowledges India’s growing importance as a global market.
- The company aims to make India a global export hub for Hyundai and Kia vehicles.
Focus on Electrification
- Hyundai will develop EVs specifically designed for the Indian market.
- The company will play a leading role in India’s electric mobility transition.
This strategic push by Hyundai and Kia positions them to be major players in India’s rapidly growing EV market.