Hyundai is working on several launches in the second half of 2022 with one of them being the Ioniq 5. The Ioniq 5 will be Hyundai’s second EV in India after the Kona electric. But what is Hyundai’s plan after the Ioniq 5 launch? Is the brand thinking about bringing an affordable electric car? Thankfully, Hyundai has got that covered. The brand is planning to bring multiple EVs (already in development) with one of them being an affordable option for the Indian market. So in today’s article, we will talk about this Rs 10 lakh Hyundai EV and what could it offer to the end buyer.
Hyundai has confirmed that it has started working on an affordable EV for the Indian market. This comes after Kia recently confirmed the same. Both brands could be working together on this front. Hyundai will try to heavily localise the product in order to keep the costs in check since the brand already knows that India is a price-sensitive market. But, when will it launch? Hyundai hasn’t specified a launch timeline but has clearly put out that the EV would only be brought when the ecosystem is ready and charging an EV is no more an issue.
Hyundai’s EV roadmap
Currently, Hyundai is focusing on launching its second EV in India, the Ioniq 5. With the Ioniq 5, Hyundai would attempt to place it as a showcase product. Once the required infrastructure is developed, Hyundai will launch more mass-market EVs in India. How many Hyundai EVs can we see in the future? Hyundai has plans to launch six EVs in India by 2028. It will be investing a total of 40 billion rupees in the country.
Rs 10 lakh Hyundai EV – Indian EV space
The EV space in India is still in its nascent stages. EVs account for only 1% of the total car sales. But this number is expected to shoot up to 30% by 2023. So brands are working on future products. So what brands have confirmed their EVs? Tata is already in the EV market and is developing more EVs. Maruti & Toyota are also working on a mid-size electric SUV for India. Mahindra will be unveiling its Born Electric EVs in July. MG is working on a Nexon EV rival as well as a much-affordable compact EV for the market. Other manufacturers like Skoda, and Volkswagen have also shared their plans for India.
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