Hyundai is positioning India as a vital component in its plan to sell 20 lakh electric vehicles (EVs) worldwide by 2030, stated Jose Munoz, the company’s President and CEO. He made the comments during a town hall meeting with employees at the automaker’s Gurugram office in India.
During the meeting, Munoz emphasized Hyundai’s dedication to tailoring its electric car offerings to the specific requirements of Indian consumers, in alignment with the country’s push for eco-friendly transportation solutions. According to PTI, Munoz indicated that Hyundai Motor Company would continue to support Hyundai Motor India Ltd (HMIL) through investments in its EV portfolio and the necessary infrastructure for the shift. He added that the company plans to introduce three more mass-market electric cars in India.
Munoz further noted that India has evolved into a world-class automotive manufacturing hub and regional export base, making it integral to Hyundai’s global vision. To manage the escalating demand for passenger vehicles, the upcoming manufacturing facility in Talegaon, Maharashtra, will be crucial in boosting local manufacturing capacity, he added.
Hyundai currently offers two electric cars in India: the Creta Electric and the Ioniq 5. While the Ioniq 5 targets the premium segment, the Creta EV is the brand’s most affordable electric vehicle in the Indian market. India is currently the third-largest market globally for Hyundai’s international operations. HMIL’s Initial Public Offering (IPO) has provided the automaker with resources for investments in new products and increased production capacity in the country.
In 2019, Hyundai was the first original equipment manufacturer (OEM) in India’s passenger vehicle market to enter the EV segment with the Kona Electric, followed by the locally assembled Hyundai Ioniq 5 in 2023. Following the Creta EV launch, Hyundai is preparing to introduce three more electric cars in India. Last year, the automaker revealed its plans to launch four new mass-market electric vehicles in India, including the Creta EV. These upcoming electric vehicles will be manufactured at its Talegaon-based facility, which Hyundai acquired from General Motors in 2024.
