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April 25, 2024

Hyundai India Accelerates Electric Vehicle Plans: 5 New EVs by 2030, Electric SUV Launching in 2024

Hyundai Motor India has announced plans to introduce five new electric vehicles (EVs) by 2030, accelerating its commitment to the electric mobility sector in India. The South Korean automaker is bringing forward its “locally tailored” EV plans by two years, aiming to make significant strides in the country’s rapidly evolving automotive landscape.

The company’s Chennai plant is set to roll out Hyundai’s first electric sports utility vehicle (SUV) by the end of 2024, marking a shift in its earlier timeline, which had aimed for five EVs by 2032. In a move towards self-reliance, Hyundai India and Kia have recently partnered with Exide Energy Solutions to explore local battery production for EVs.

Hyundai India is also focusing on expanding its EV charging infrastructure to support the growing adoption of electric vehicles. The company plans to leverage its sales hubs to increase the number of EV charging stations to 485 by 2030. These initiatives were highlighted during Hyundai Motor Group Executive Chair Euisun Chung’s visit to India, where he addressed the company’s employees in his first overseas town hall meeting.

Chung expressed optimism about the evolving EV market, stating, “By around 2030, we expect to see a substantial expansion in the EV market. In anticipation of this evolution, Hyundai is focused on developing locally tailored EVs aimed at establishing us as a leading global EV brand.” He further added, “We also plan to proactively build charging stations at strategic locations – including dealerships – to facilitate the adoption of EVs.”

Meanwhile, Kia India, an independent entity of the Hyundai group, is gearing up to produce its own EV for the local market by 2025, with plans for further expansion thereafter. The company is also committed to bolstering EV charging infrastructure in India.

Chung emphasized the strategic importance of India, stating, “India is among the fastest-growing economies globally, and as this growth continues, the strategic importance of Hyundai Motor India will only increase.” He outlined plans to expand exports to neighboring countries, positioning India as a global export hub and enhancing regional market competitiveness.

To support its ambitions, the Korean group is expanding its manufacturing footprint in India, aiming for an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined. The group plans to expand its EV range and develop an ecosystem to accelerate customer uptake and expand charging infrastructure.

Hyundai India’s operations will see further expansion with the commencement of a plant in Pune in the second half of 2025, acquired from General Motors last year. The facility is undergoing upgrades to become a smart manufacturing hub capable of producing over 200,000 units annually. Combined with the Chennai plant, Hyundai India’s annual production capacity will exceed one million units.

Kia India’s annual production capacity will also receive a boost, reaching 431,000 units in the first half of this year. Together, Hyundai Motor Group will have the capacity to produce approximately 1.5 million units annually in India.

Chung reiterated the company’s commitment to India, stating, “We will develop EVs tailored to the Indian market and expand EV infrastructure in the region. We will lead the next generation of mobility in India, playing a key role in electrification, and we will continue to elevate Hyundai as a premium brand.”

In summary, Hyundai India’s accelerated EV plans underscore its commitment to shaping the future of mobility in India, with a strong focus on local manufacturing, infrastructure development, and technological innovation.

Jhumpa Lahiri

Jhumpa Lahiri

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