Hyundai may launch its electric vehicle in India before Maruti
NEWDELHI: Hyundai Motor India Pvt. Ltd, India’s second largest car maker, plans to launch its first electric vehicle (EV) in the country by 2019, a year earlier than Maruti Suzuki India Ltd plans to enter the segment.
The company has not decided whether it would bring its electric vehicle brand Ioniq or introduce a new vehicle on a sport utility vehicle (SUV) platform, YK Koo, managing director and chief executive of the Indian unit of the South Korean car maker, said in an interview to
If things go according to plan, Hyundai will be the first foreign passenger vehicle maker to launch its electric vehicle in India.
“The product will be brought to India in a complete knockeddown version (CKD) because we are not much assured of the success of EV products in the Indian market but to showcase that we have the technology. We are bringing this EV product as CKD to test the market,” said Koo.
India is the fourth largest market for Hyundai Motor Co. after the US, China and Korea. In 2017, the Indian subsidiary contributed 15% of the total sales of the parent company globally against 13.6% in 2016.
Koo insisted there is a need for a clear road map for electric vehicles. “We need a clear picture from the government but we cannot wait. Still, we are waiting for a detailed road map to be proposed and developed by the Niti Aayog,” Koo said.
Globally, Hyundai sells fully battery powered electric vehicles, hybrid and plug-in hybrid vehicles under the Ioniq brand. The South Korean car maker is also expected to showcase two of its electric vehicles during the forthcoming Auto Expo scheduled to be held in Greater Noida in February. Hyundai, unlike Maruti, is not planning to establish its own charging stations as it would be expensive and the onus to do that is on the local government, Koo said.
“If we have to establish charging stations then it will be very expensive. OEMs should develop the products, bring technology and price it aggressively but the road map for charging infrastructure should be built by the government and then we will follow. The government should develop infrastructure and should guide us about some GST benefit and other things,” said Koo.
The company has requested the government to reduce the existing Goods and Services Tax rate on electric and hybrid vehicles and give some subsidy on lithium-ion batteries.