With the help of a local supply chain, Hyundai Motor India declared its intention to launch completely electric vehicle (EV) models in the mass and premium markets. The business has disclosed its plans for a massive initial public offering (IPO), scheduled to begin on October 15 and with a goal of raising ₹27,870 crore. In addition, Hyundai plans to introduce its eagerly awaited Creta EV during the current fiscal year’s fourth quarter. In the years to follow, the company hopes to introduce four more electric vehicles.
The early stage of electrification in India was highlighted by Unsoo Kim, Managing Director of Hyundai Motor India (HMI), who expressed optimism for the country’s EV market to grow robustly by 2030 due to the government’s strong initiatives and the focus of various Original Equipment Manufacturers (OEMs) on electric vehicles. Kim emphasized that preparations for the launch of complete EV vehicles, including the Creta EV, this fiscal year are made easier by HMI’s access to worldwide EV and battery technologies from Hyundai Motor Company (HMC).
The corporation is giving regional supply chains for essential parts like battery packs, powertrains, and battery cells top priority in addition to electric automobiles. Kim went on, “We are also investing in EV charging infrastructure,” highlighting the business’s dedication to creating a whole ecosystem for electric vehicles. Chief Operating Officer Tarun Garg reiterated this opinion, saying that HMI has solid plans for electric vehicles and that the debut of the Creta EV will be followed by the introduction of three more models, which will greatly increase EV sales.
Click Here to get the latest EV news and exclusive updates from EV Mechanica on WhatsApp!