Hyundai plans to launch an EV in 2019 in India
Updated December 4, 2018
Hyundai, a South Korean auto giant plans to launch an electric SUV for the India market in the second half 2019
Hyundai is a wholly owned subsidiary in India and the company plans to leverage its electric technology in India to get an appropriate Electric Vehicle to India. YK Koo, the Managing Director and CEO for Hyundai Motor India said in a statement that “We will launch an electric SUV in the second half of 2019. We will import it as a completely knocked down unit.”
He also said that the company’s long-term vision is to manufacture the Electric Vehicles from its plant located in Chennai. Hyundai Motor India and the government of India have the same vision of making the country an Electric Vehicle market by 2020.
Hyundai Motor India is the second largest auto manufacturer in India with over 17 % of the market share in 2017. The company was formed in 1996 in India by Hyundai Motor company which has its headquarters in South Korea.
At the auto expo which took place in Delhi this year the company showcased its EV models Kona and Ioniq.
YK Koo said by 2020 Hyundai plans to launch 8 new models. By the first quarter of 2021, the company would enhance its production capacity to 10 lakh units.
Koo added, 2,75,136 units were sold in the domestic market during the first half of 2018 and witnessed an 8.6 percent growth rate from the same time last year.
Categories: Automotive News