HYUNDAI INSIGHTS

Y K Koo, Hyundai Motor India Limited’s managing director and chief executive officer, gets candid on the new Elite i20, the Ioniq, and more

evo India: You have just announced an extended warranty program.

Y K Koo (YKK): “We have just unveiled the new Elite i20 at the 2018 Auto Expo which has received great response from customers and media. And we have launched the new Verna, both with three years warranty. 20 years ago in India, we launched the Santro, in September 1998. So we are offering 3+3 years warranty on all products because we are celebrating. So from February 1st we offer 3 years additional warranty along with the 3 years warranty already there.”

evo India: Would the 1.2 CVT be locally produced?

YKK: “Of course. It will be locally made. The automatic was imported but unfortunately the prices are very high and the model contribution is only one percent. But when the CVT model will be launched in May, we can increase the model contribution.”

Would we see an automatic in the diesel as well?

YKK: “No.”

evo India: Are you going to look at AMT transmission?

YKK: “Of course, In the next three years we are planning to introduce nine new products in the Indian market. So out of nine, two facelifts, four full model changes, two new segment products and one electric vehicle. 2019 is our target (for electric vehicle). So we are planning to launch AH2, which is a contemporary family oriented product in second half of this year before Diwali, with AMT and factory-fitted CNG.”

evo India: Will that be the Santro? YKK: “We are under pressure from the media people, the dealers and my colleagues to put the name Santro on AH2. But in the second half we will be making decision. Lots of people even politicians are asking us to name it Santro, because they have very good memory. Santro is a very powerful and iconic brand for Hyundai India. When it was launched in the Indian market it was the first tall boy, and the first with multi-point fuel injection and first Euro II in the segment. And Santro is a great product and has made big changes in the Indian automotive market. Santro built the company. When it was launched we got more than 15,000 bookings and `490 crore in booking amount.

evo India: Will we see the Ioniq in India soon?

YKK: “The date is 2019. We are still in market survey to decide if we want electric vehicles or SUVs.”

evo India: Would you be looking at bringing the Genesis brand to India?

YKK: “Genesis is beyond 2020.”

evo India: Will you look at hybrids also? Because you are mentioning electrics but not talking about hybrids.

YKK: “We today displayed the Ioniq, the electric and the hybrid. But now the government is focused on electric vehicle and even the GST being 12 per cent for electric cars compared to 43 per cent for hybrid vehicles, still we are waiting for the government for the eco-friendly product roadmap, then accordingly once they announce, we have to review and do a feasibility study for electric vehicles and hybrid as well, but we have the technology.”

evo India: You also have new competition coming from your very own group. How do you tackle the challenge of Kia?

YKK: “We work together. Everywhere, in every market in the world, Hyundai and Kia have always grown together with competition. India is not different. So we could have a fair competition.”