Hyundai India plans to expand its electric vehicle (EV) product portfolio in the coming years. The company has already confirmed that it will introduce 6 new battery electric cars in India by 2028. The range will include mass-market to premium hatchbacks and SUVs. For its EV project, the South Korean carmaker earmarked an investment of Rs 4,000 crore. The Hyundai Ioniq 5 electric crossover will be the first model to come under this strategy that will take on the newly-launched Kia EV6. The model will see a market release in the second half of 2022.
The company has also started development work for its new small electric car that will target the mass-market. It’s likely to be an affordable EV from Hyundai as the company is planning to achieve high localisation level. In order to keep the manufacturing cost under control, the automaker will source and produce components locally. The information comes from Tarun Garg, Director Sales, Marketing and Service of Hyundai India. He also revealed that the new Hyundai electric car will be launched “at the right price” and time.
Currently, Hyundai has been working on different aspects for its upcoming EV right from charging ecosystems, sales network to the assembly and manufacturing process. As per the official statement, the new Hyundai affordable electric car will arrive when the charging ecosystem will be ready. If reports are to be believed, the new Hyundai EV will be a small SUV that will be priced below Rs 10 lakh. It might deliver a range of around 200km.
Talking about the upcoming Hyundai Ioniq 5, the electric crossover has been built on the E-GMP platform featuring a modularized battery system. It provides a low centre of gravity. Here, the Ioniq 5 will be imported via CBU route and placed as Hyundai’s flagship EV. The electric crossover will be offered with single motor and dual motor setup and two battery packs – 72.6kWh and 58kWh.