The sudden change in the mindset of people for Electric Vehicle (EV) is being observed these days the possibility in such a drastic change of mind could be hike in fuel rates. On the other hand, automakers are also seen enthusiastic to fast their tracks over EV strategies.
Out of all automobile companies, Hyundai was the first to come up with the launch of Kona Electric in 2019. But the Korean company didn’t cash in on its first mover advantage because the segment was at embryonic stage. Although this small two years gap in the in making EV as a mainstream rang the alarm bell to Hyundai. Responding quickly towards the reactions of growing demand of EVs, Hyundai announced six EVs in India by 2028.
- E-GMP platform to underpin future EVs
- Mass-market EV will use ICE platform
- EV chargers installed at 108 Hyundai dealerships
The carmaker says it will invest approximately Rs 4,000 crore to expand its EV line-up from the sole Kona Electric to 6 Battery Electric Vehicles (BEV) by 2028. These EVs will span different segments like mass market and mass premium and will include an SUV, sedan and CUV (Compact Utility Vehicle).
“In 2019, we launched the Kona and made some good experiments and got very good customer feedback, so we are ready and all charged up,” said Tarun Garg, director of Sales, Marketing and Service at Hyundai India.
The high-end Hyundai products will be based on Hyundai’s E-GMP (Electric Global Modular Platform) dedicated battery electric vehicle platform and the first E-GMP product in India will be the Ioniq 5..
The E-GMP platform being specifically designed for EVs will allow Hyundai to develop vehicles with a flat floor, slim cockpit and a flexible and spacious cabin. The top speed capabilities will be of up to 260kph and a range of 800km. On the other hand Maruti Suzuki is also debuting with EVs.
Hyundai expects the Indian EV market size to be around 1.75 lakh units by 2028 going by current trends. But that figure is likely to be revised based on several off the point factors like battery costs, charging infrastructure and government subsidies, which could dangle either way, making a long term projection for a growth is hard to predict.
The Korean carmaker is also working towards improving the EV infrastructure in India with strategic collaborations. Apart from providing a 7.4kW AC home charger to customers, Hyundai has also set up public 50kW DC fast charging stations in four cities (with Indian Oil), installed AC fast chargers at 108 dealerships in 15 cities (free for Hyundai customers) and is providing a 24x7 road side assistance pan-India, along with a vehicle to vehicle and portable charging solution for its EV customers in six cities that will be free for three years.
