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Hyundai reveals plans to build electric vehicles in India

June 30, 2018, 03:31 PM IST by Nikhil Puthran
Hyundai reveals plans to build electric vehicles in India

- Electric EVs to be produced at Chennai facility
- Plans to launch electric SUV across 15 cities in India
- Electric SUV to be one of eight products to be introduced between 2018 - 2020

The country largest car exporter, Hyundai has revealed its plans to produce electric vehicles in its facility in Chennai, India. The company is planning to introduce an electric SUV as one of the eight new products which are due to be introduced in the country by 2020. Although the target volume and pricing aspect for the electric SUV is unknown for now, the company has confirmed that it will be introducing the vehicle across 15 cities.

Hyundai will analyse the market response and government support for development of electric vehicles in the country. Although details for the electric SUV are not known for now, the company has indicated that it will initially be imported as a completely knocked down unit (CKD) and is expected to arrive in India in the second half of 2019.

Apart from plans to introduce eight new products between 2018 and 2020, Hyundai is also planning on increasing its annual production capacity to 7.5 lakh units from January next year from the seven lakh at present. In the last 20 years of its operation in the country, the company has cumulatively sold around eight million vehicles and is now targeting to cross the 10 million milestone in the first quarter of 2021.

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