South Korean automaker Hyundai plans to expand its range to six battery-electric vehicles in India by 2028. The company will invest around ??4000 crore in R&D.
Over the next few years, Hyundai will launch a mix of models based on its existing lineup as well as entirely new vehicles based on its global “E-GMP” platform.
The company’s range of six BEVs will target multiple segments, including mass market and mass premium segments in India, one official said adding: A wide range of models for customers to choose from. “
Hyundai Motor India Managing Director and CEO SS Kim told PTI: “As we continue to redefine the mobility space, today we once again show our commitment to Indian customers with the announcement of the extension of our BEV range to six vehicles for the Indian market in 2028. ”
The company is taking experiences beyond mobility and has a strong focus on smart technology, sustainability and innovation, he said.
“With this idea in mind, we will be showcasing our dedicated BEV platform – E-GMP as well as modified platforms for battery electric vehicles in India,” Kim told PTI.
Hyundai’s E-GMP platform has the capacity to deliver a large battery capacity of up to 77.4 kWh. It also offers 2WD and 4WD capabilities, improved handling and the ability to reach a top speed of 260 km / h.
Hyundai is already selling an EV model, Kona Electric, in the country.
Hopefully, from next year: India MD says on launch
Speaking about the launch of her first product, Kim said, “This year is over, there are only a few days left. Hopefully, starting next year.”
Hyundai is looking to develop a complete ecosystem for electric vehicles in the country and is currently focusing on ways to localize production processes.
In addition, efforts are underway to locate the right set of partners for charging infrastructure as well as other related activities, he added.
“Our R&D team and purchasing department have done market research. We are trying to explore partnerships with local suppliers… we have shortlisted some candidates and we are looking at their capabilities,” Kim said.
Production of electric vehicles would take place at the Chennai-based company’s factory, he said, while adding that in the initial phase, major components such as batteries could be sourced from overseas.
“We are talking to many global battery players in China and South Korea. It is still not clear if local manufacturing will happen here in the next few years. Hopefully in a few years it will be manufactured here.” Kim said.
(With contributions from agencies)
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