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Hyundai to produce electric vehicles in India

Hyundai to produce electric vehicles in India
Nikhil Puthran Nikhil Puthran Saturday 30 June 2018, 16:41 PM

Hyundai plans to GO ahead with EV production at its facility in Chennai, India. The Korean car manufacturer has revealed its plan to introduce an electric SUV as one of the eight new products which are due to be introduced in the country by 2020. Hyundai will be introducing the vehicle across 15 cities. However, the target volume and pricing aspect for the electric SUV is not known for now.

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 by 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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