The Hyundai and Kia brands will launch more EVs in India as part of Hyundai’s aim to increase its presence in the third-largest car market in the world.
Hyundai, which is currently India’s second-largest automaker by sales, will launch five EV models by 2032 in addition to the two it already sells in the nation.
Additionally, it will increase the quantity of charging stations by 2027.
South Korea’s SEOUL Hyundai of South Korea announced that it will extend the number of electric cars (EVs) available in India under the Hyundai and Kia brands as part of its efforts to enter the third-largest auto market in the world.
Hyundai, which is now the second-largest automaker in India based on sales, will launch five EV models by 2032 in addition to the two sport utility vehicles (SUVs) it currently sells there, the Kona and Ioniq 5. By 2027, it will also increase the quantity of charging stations.
Kia will start manufacturing compact EVs starting in 2025, build EV charging infrastructure, and expand its sales network, according to a statement from Hyundai, which said this will help the company grow its domestic market share from the current 6.7 percent to 10 percent.
Hyundai, which has already prepared plans to invest $2.45 billion to grow its EV production in the country, stated that “the country is becoming an increasingly important centre for EV production and sales.”
Compared to the 48,105 EVs sold in the nation in fiscal 2023, the South Korean auto market is predicted to record EV sales of at least 1 million units by 2030.