The Indian market for electric vehicles (EVs) is anticipated to expand “strongly and steadily” through 2030 as more businesses concentrate on this industry, helped by effective government leadership. Hyundai Motor India’s (HMIL) managing director (MD), Unsoo Kim, declared.
Kim’s positivity coincides with a decline in electric vehicle sales in India during the past few months.
A 8% year-over-year (Y-o-Y) decline in EV sales was recorded in September, according to data from the Federation of Automobile Dealers Associations (Fada).
Tarun Garg, the chief operating officer (COO) of HMIL, announced that the Creta EV, the company’s first high-volume EV, will be on sale in the last quarter of the current fiscal year.
It might totally disrupt this section, he said, adding that it will be a “very big game changer”. “We think that having such a large-scale electric vehicle from Hyundai’s lineup will offer the consumer the assurance that going electric is the right choice,” Garg continued.
Kim stated that the Indian EV market is in its “early stages of electrification.”
“We anticipate that the government’s strong leadership and several OEMs’ attention to this segment will be the main drivers of the Indian EV market’s strong and steady growth by 2030. HMIL is able to access worldwide battery technology. Thus, we are creating an ecosystem for EVs. Four new models are going to be released. The last quarter of the current fiscal year will see the arrival of Creta EV, our first high volume EV,” he stated.
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