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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.
Gireesh has been reporting on cars for over 10 years. He might have a keen eye for all type of fuel cars but he has a soft corner for electric cars. Gireesh also enjoys a good drive or ride after a hectic day at work and like to watch movies.
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