The electric vehicle (EV) segment in India is still yet to witness any prominent car makers announcing their plans EV product lineup. However, South Korean carmaker Hyundai has revealed its plans in this segment. Hyundai electric vehicle launch in India has been confirmed and is scheduled for 2019.
Hyundai plans to invest over $1 billion (nearly Rs 6,300 crore) in India over the course of three years on new products, development of engines and setting up a new office in Gurugram in Delhi. Hyundai's first electric vehicle will be launched in 2019, and it could be the Kona SUV or the Ioniq sedan.
Commenting on the company's foray into electric vehicles (EV) to ET Auto, Koo said, "Our first EV in India will be launched next year. At the moment we are yet to finalise whether it will be the Ioniq EV sedan or the fully electric version of SUV Kona."
Currently, Hyundai is studying the market for customer preference which would help it decide on which EV to launch in India. In the meantime, the company is awaiting clarity from the Indian government about the EV policy for the country. Based on the policy and keeping in view the 2030 target of 40 percent of all personal vehicle being electric vehicles.
So will the Hyundai EV be manufactured in India? Well, no. Hyundai will bring the EV through as Completely Knocked Down (CKD) kit and will be assembled at their Chennai plant. However, after assessing the customer response, Hyundai will consider manufacturing the EVs in India.
Currently, the Hyundai Kona is available in petrol and diesel guises, while the Kona EV is available in the South Korean market only for pre-order and the launch is expected to be in June 2018. The Hyundai Kona EV draws power from a 140kW electric motor and is available with two different battery packs: 39.2kWh and 64kWh. The Kona EV with the 39.2kWh has 240km range, while the 64kWh offers up to 390km.
Thoughts About Hyundai Electric Vehicle Launch In India
As the Hyundai Kona EV or the Ioniq EV will be brought to India via the CKD route, the company will try to keep the pricing as competitive as possible. Looking at the range and the popularity of SUVs in India, the Hyundai Kona EV seems to a promising product for the company as well as for car buyers.