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Hyundai is planning to launch a small, affordable electric car for India: Check details

Hyundai is planning to launch a small, affordable electric car for India: Check details Hyundai is planning to launch a new compact, and affordable electric car in India. The South Korean company is already in the process of bringing some premium-level electric cars to India but there hasn’t been a mention of an affordable

  • Posted on 17th Jun, 2022 19:22 PM
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Hyundai is planning to launch a small, affordable electric car for India: Check details Image

Hyundai is planning to launch a new compact, and affordable electric car in India. The South Korean company is already in the process of bringing some premium-level electric cars to India but there hasn’t been a mention of an affordable electric car. A new report detailing Hyundai’s grand EV plans for India has surfaced. Also Read - More Tata EVs to hit the road as company receives biggest order of 10,000 EVs

A Reuters report, citing a Hyundai India executive, has claimed that a small electric car is under development for the Indian market. The preparation is not limited to just the car, the company is also planning to expand its electric car ecosystem. Different departments are working on the charging ecosystem, sales network, and also the facilities that will be required to assemble the car. It is safe to assume that this new electric car will be manufactured or assembled in India in order to keep the overall costs low. Also Read - Tata Motors sets new record by delivering over 700 EVs in a single day

Tarun Garg, director of sales, marketing, and service for Hyundai India, in the interview told Reuters that they are trying to increase the localisation of the product as much as possible. Also Read - Tata Motors to reveal a new Electric SUV concept on April 6

When will the new Hyundai electric car launch?

The small electric car launch timeline is still uncertain. When asked about the launch, Garg claimed that the company will wait for the right time to launch the product. The South Korean brand will like to keep the costs low. Furthermore, ahead of the launch, the company will be trying to expand the charging ecosystem in order to build confidence in the customer.

Hyundai India plans to invest $512 million in the EV sector. This new small and affordable electric car will be a key player in this plan. The company has plans to launch a total of six electric cars by the year 2028.

For the time being, Hyundai is planning to launch the much more premium offering, the Ioniq 5. The electric car will be launched later this year and it will be competing with its sibling Kia EV6. The Ioniq 5 boasts a range of 480 km.

“When it was about cars with internal combustion engines, we had this bottoms-up approach. In electric, we are trying the top-down approach,” he said. Garg claimed that in order for mass-market EVs to succeed there needs to be a widespread charging network and lower battery prices.

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