Hyundai India plans to manufacture Electric Vehicles (EVs) in India
South Korean Automaker Hyundai has plans to manufacture Electric Vehicles (EVs) in India. The Automaker has released plans to manufacture and export electric cars in India. Hyundai India will produce the EVs at its factory in Irungattukottai near Chennai. The company plans to introduce an electric SUV in India, possibly in the next couple of years. Hyundai will launch the electric SUV across 15 cities pan India. Although the company has not released details about the electric SUV it plans to introduce in India, the Automaker will use the CKD route to get the vehicle in the country. Besides the SUV, the company also plans to introduce a slew of new models in the next two years i.e. 2018, 2019 and 2020.
At present, electric vehicle charging infrastructure in India is scanty and then there’s the concern about generating enough electricity, using sustainable means, to cater to the additional demand. Hyundai says that it will study the market response to EVs in India to ascertain the feasibility of electric vehicles. It is also analysing the government support for developing electric vehicles in the country. Hyundai Motor India Limited (HMIL) managing director and CEO Y K Koo said that the government should consider reducing import duties and cutting GST rates on EVs in India. This will significantly drop the price of EVs in India.
Hyundai will also increase the production capacity at its factory in India to meet the growing demand for its present cars. Hyundai India not only produces cars for the domestic market but also in international markets. At present, the production capacity is 7 lakh cars per annum and it plans to raise this number to 7.5 lakh units from January 2019.
Stay tuned for more updates!
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