Hyundai Working On A Mass Market EV For India
It will likely be built from the ground up with a range of at least 300km
The Kona is Hyundai’s only EV offering in India, with a claimed range of 452km.
Hyundai is working on plans for a locally-built mass-market electric offering for India, likely an SUV.
The hope is to further encourage EV adoption alongside the development of local charging infrastructure.
It will likely be priced from around Rs 15 lakh with an expected launch in 2022.
Such a Hyundai EV will take on the Nexon EV and the upcoming Mahindra XUV300 EV and Tata Altroz EV.
Hyundai was the first to offer a long-range electric vehicle in India when it launched the Kona Electric in July 2019. While its premium pricing has kept its sales relatively low, it has helped encourage the adoption of electric mobility to those who can afford it. The carmaker recently reaffirmed its plans to introduce a heavily localised EV offering in India.
Given the ongoing trend, it is safe to assume that this made-for-India EV from Hyundai will likely be in the shape and size of a compact or subcompact SUV. While the Kona Electric is a battery-powered version of an existing SUV that is also offered with internal combustion engines, the new mass-market electric vehicle offering would likely be built from the ground-up. Hyundai is said to be aiming for up to 90 per cent localisation of the new EV in order to make it more affordable.
The timeline for this new Hyundai EV has not been publicly discussed by the carmaker but we expect it to be showcased sometime in 2022. It is expected to offer a competitive range of at least 300km of range while the 39.2kWh battery offered in the current Kona EV has a claimed range of 452km. As a Hyundai product, even the mass-market EV will offer premium features like other SUVs in its portfolio. While 2022 is our estimate, the arrival of this Hyundai EV also depends on the development of the local charging infrastructure in the meantime.
While a well-equipped mass-market EV with over 300km of range would likely be priced around Rs 15 lakh, Hyundai could offer it via subscription-based ownership as well. Some reports suggest that the underpinnings of the Venue (a global model) are designed for electrification as well and we can expect mild-hybrid offerings before the locally-made mass-market EV.
Currently, the choice of electric passenger cars is limited to a handful of models, and only three offer a claimed range of over 300km. The most affordable and the best selling EV currently on sale is the Tata Nexon EV, based on the ICE-powered sub-4m SUV, which claims 312km on a full charge with prices ranging between Rs 13.99 lakh* and Rs 16.25 lakh.* Meanwhile, the Hyundai Kona Electric retails from Rs 23.76 lakh* onwards and its closest rival, the MG ZS EV, starts from Rs 20.88 lakh*.
*all prices are ex-showroom Source
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