In the next three years, Hyundai Motor India plans to enter the hybrid car market.
The South Korean automobile is seeking to incorporate a hybrid powertrain as part of its electrified future in India, which is a shift from the pure EV future anticipated in the past, according to sources, amid increased demand for hybrid vehicles internationally and in India.
According to those with knowledge, Hyundai Motor Group Executive Chair Euisun Chung recently informed staff members in India that hybrid cars will play a significant role in the company’s portfolio in India, alongside electric vehicles.
Chung had presented a long-term plan for the Indian market at a town hall earlier in April.
In the future, Hyundai Motor India is probably going to provide hybrid powertrain options in its mid-size SUVs. According to sources close to the development, it may be included in cars like the Creta, Alcazar, Tucson, and Verna in the upcoming ten years.
While Kia has already committed to introducing hybrid cars to the Indian market, Hyundai had previously stated that it would not commit to doing so, preferring to focus its resources on pure battery electric cars.
“While the company has stuck with diesel engines after the BS-VI phase II, post 2027 the cost to meet future emission norms for diesel will make it even more expensive and hence it makes sense to look at hybrid technology for mid-size vehicles to remain competitive,” added another person.
Globally too Hyundai Motor is pushing for hybrids. Jose Munoz, the Global COO of Hyundai who also oversees the North American market, has told global media that the company will have to extend hybrid programmes as they are well accepted by customers.
Hyundai Motor spokesperson said, “Hyundai Motor Group is committed to a future of electrified mobility and will optimise product strategies for each market.”
Hyundai Motor India has committed Rs 33,000 crore investment in the coming decade in the country and has set itself a target of creating a capacity of 1.5 million vehicles by the end of the decade.
The first localised electric vehicle based on the Creta will be launched in less than a year and a mass market offering is also scheduled to hit the roads in 2026-27. The South Korean car maker has also partnered Indian battery maker Exide Industries to make localised cells to ensure an accessible price.
During the financial year 2023-24, about 85,000 to 90,000 hybrid vehicles were sold in India accounting for 2% of the total sales in the country. Hyundai’s closest rival Maruti Suzuki along with its global alliance partner Toyota Motor continues to drive the hybrid vehicle segment in India.
The market leader has guided sales of about 7.5 lakh hybrid vehicles sales by the end of FY31 and it is already building affordable hybrid vehicles.
R C Bhargava, chairman of Maruti Suzuki recently informed that Suzuki Motor Corporation in Japan has already started working on affordable hybrid technology to diversify the product offering and bring in compact vehicles with better fuel efficiency.
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