Though it made an early start in the EV race with the Kona EV, Hyundai Motor India hasn't built a strong presence in the EV market, but that could soon change. The Ioniq 5 launched at a very aggressive price of Rs 44.95 lakh is the first small salvo that will herald a range of EVs with which the company is aiming to become market leaders.
The South Korean automaker plans to have a wide portfolio of electric vehicles from a small car EV to a large SUV built on multiple platforms which could be both ICE derived electric vehicles or on a dedicated EV skateboard to cater to different price points. The company would even consider a dedicated EV factory, if the market grows fast enough, said a senior company executive.
Unsoo Kim, Managing Director of Hyundai Motor India told our sister publication Autocar India, "We want to be number one in electrification in India. We didn't expect India to grow so fast, but in India the electrification trend is growing faster than I expected. Globally we have a lot of resources for electrification, but we want to open a new chapter with India."
This story is from the 1st February 2023 edition of Autocar Professional.
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This story is from the 1st February 2023 edition of Autocar Professional.
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