Hyundai Motor India is gearing up for an India-made mass market electric SUV based on an electric vehicle platform. This will be a step forward in the strategy of Hyundai in making electric vehicles in addition to the existing Creta Electric and IONIQ 5.
Do you want to compare Hyundai’s existing EVs with upcoming electric SUVs? Check out BudgetEV to compare the specification of the electric vehicles.
Why is Hyundai Targeting the Mass Market for Its EV Range?
What makes Hyundai's strategy noteworthy is the fact that its range of vehicles in India has been limited to only premium EVs such as the IONIQ 5 and the CRETA Electric. This means that in the past, Hyundai has made it clear that its EV strategy will be increasingly focussing on the mass market along with localization of key components like batteries and motors.
Thus, the upcoming SUV is not simply another model. Localization may prove to be vital for Hyundai's cost competitiveness.
What We Know so far
There is currently no information on the battery pack size, range and power specifications of the SUV from Hyundai. It is expected to be placed below the CRETA Electric, with India being its target market.
So any kind of speculation regarding its pricing and range would be inappropriate at this stage.
Hyundai Is Creating the EV Ecosystem Too
It’s not just about the product for Hyundai. HMIL aims to have 820 sales facilities and 650 workshops ready for EVs by FY27, with over 7,000 more sales staff and over 5,000 more service staff trained for EV-related operations.
In addition, Hyundai offers the Battery-as-a-Service (BaaS) for the CRETA Electric, thus cutting down the cost of the car to ₹10.99 lakh before any battery-related payment.
If someone is thinking about an EV, BudgetEV will be of help in figuring out whether an upcoming model is going to meet the customer’s needs.
Why Does It Matter for India’s Electric Car Market?
The Indian EV market is fast becoming more competitive as customers seek better range alongside affordability.
Hyundai’s recent announcement indicates that the company is looking to compete in all these aspects.
What remains to be seen is if the localised mass-market SUV is able to provide a winning combination of these three aspects vis-à-vis existing brands such as Tata and Mahindra.
Stay tuned to BudgetEV for news and reviews about the launch of new EVs and the changing Indian electric car market.
FAQs
1. What is the new EV that Hyundai is launching in India?
Hyundai is launching a locally manufactured mass market SUV based on an EV platform.
2. Is the new EV from Hyundai going to be less expensive than the CRETA Electric?
Yes, the EV will be positioned below the CRETA Electric but the price has not been made public by Hyundai yet.
3. Do we know anything about the battery and range of the vehicle?
Hyundai has not made official information about the range, battery capacity and power output of the new vehicle.
4. Is Hyundai expanding its network of EV chargers in India?
Yes, Hyundai has launched 120 kW DC fast-charging stations in New Delhi.
5. Why is localization important for the EV strategy of Hyundai?
Localizing key components of EVs can give Hyundai a competitive edge.