Hyundai set to drive in five EVS by 2030
Hyundai Motor India will introduce five new electric vehicles (EVS) by 2030, said the South Korean automaker on Thursday, bringing forward its “locally tailored” plans for the sector by two years.
The Chennai plant will build the company’s first electric sports utility vehicle by the end of 2024. The company earlier planned to introduce five EVS by 2032. Hyundai India and Kia recently signed an agreement with Exide Energy Solutions to pursue the local production of batteries for EVS.
Hyundai India will use its sales hubs to expand the number of EV charging stations to 485 by 2030. The plans were announced as part of Hyundai Motor Group Executive Chair Euisun Chung's visit to India. Chung addressed his first overseas town hall meeting with Hyundai Motor India employees.
“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,” said Chung. “We also plan to proactively build charging stations at strategic locations – including dealerships – to facilitate the adoption of EVS.”
Kia India, an independent company of the Hyundai group, will start producing its EV for the local market in 2025 and expand later. The company will also focus on building EV charging infrastructure.
“India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase. By leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighbouring countries, making India the global export hub to boost our regional market competitiveness," said Chung.
The Korean group is expanding its manufacturing in India by establishing an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined. The group will expand its EV range and create an ecosystem to “accelerate customer uptake and expand charging infrastructure”, it said.
Hyundai India will start operating a plant in Pune in the second half of 2025 – it acquired the facility from General Motors last year. It is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, using smart manufacturing technology and systems. With the Chennai and Pune plants combined, Hyundai India will have an annual production capacity of over one million units.
Kia India’s yearly production capacity will be expanded to 431,000 units in the first half of this year. Combined, Hyundai Motor Group will have the ability to produce approximately 1.5 million units annually in India.
“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," said Chung.