TL;DR
Hyundai Motor India is boosting its EV presence with a new mass-market electric car set to debut by late 2026, aiming to capitalize on surging EV demand and diversify its powertrain offerings.
Hyundai Motor India is set to significantly expand its electric vehicle (EV) portfolio with the introduction of a new mass-market electric car. The company's Managing Director and CEO, Tarun Garg, indicated strong demand for their existing electric Creta and anticipates that the new, affordable EV will further boost sales. This upcoming compact electric SUV is planned for debut by the end of 2026 and will be manufactured in India, utilizing the E-GMP (K) platform.
The penetration of passenger electric vehicles in India has surged, with Hyundai noting a rise to 7% from 2.5% in the last three months, partly attributed to global events. The company aims to capture a larger share of the less-than-4-meter segment with its new offering. Initially, the EV will source battery cells from Svolt, with plans to transition to domestic sourcing from Exide. This strategic move highlights Hyundai's commitment to the Indian EV market and its vision for a diverse powertrain mix, including CNG, hybrid, and electric, by 2030.
