Hyundai is planning to storm the EV segment again with a new small car, that will be priced around 10 Lakhs. It will be one of the 25 EVs to be launched globally.
Hyundai has launched India’s first electric SUV in India, the Kona EV, priced at Rs 25.3 Lakhs (ex-showroom). It is a CKD model for India and only 1000 units will be available initially for our market.
ET reports that Hyundai is planning for another EV in India but in the next 3-4 years. It will be a small electric car and Hyundai might reportedly price it around 10 Lakhs, to keep it in the competition for the masses.
Reports say that it could be a new mini-SUV or a premium hatchback, getting an electric motor. There are low chances of an existing model going electric, but will be a completely new model.
Importantly, Hyundai plans to develop its small electric car at its Chennai plant. A good percentage of localization will come in this car, which will make its price in check. Its current EV comes in India through the CKD route.
Hyundai recently disclosed that it will roll out 25 models till 2025, out of which, a lot of EVS will also come. These will be the global models, but some will come to India as well.
The new Hyundai small electric car will be manufactured here and later exported to the Middle East, Latin America, Africa and Asia. For this, Hyundai is likely to invest 2000 crores for an electric battery production capacity.
Now, this new Hyundai EV will lock horns with the upcoming Maruti Suzuki Electric car. The latter’s EV is currently in the testing mode and has already been spied in India a lot of times.
The spied EV will not be the final version and is only used for component testing. The Maruti EV is likely to be priced around Rs 10-12 Lakhs, and is likely to be based on the WagonR itself. Of course, by the time the Hyundai EV launches, there will be more in this price range.