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Hyundai Motor India to join in the electric race soon in India

As India is keen to have an all-electric car fleet by 2030 on Indian roads, automakers have started changing their product strategy so as to introduce electric cars in coming years. The situation in the market certainly calls for this strategic business shift. And Hyundai Motor India is expected to be among the first ones to roll out e-cars.

With a global footprint already in the hybrid and electric domain with its Ioniq brand, the company is expected to take steps in the right direction, not venturing introducing costlier version fit for the developed countries in a market that is not mature enough to accommodate the high-profile edition of electric cars.  Rakesh Srivastava, Director, Sales and Marketing, Hyundai Motor India has said “We will bring electric cars to India and will meet the timeline given by Union Government. Hyundai has the technology required for electric vehicles and we will bring them in all segments we are present.”

 Going by the current scenario, auto-component suppliers and electric component manufacturers in India do not have the volumes to locally invest in making components for a premium car like Ioniq. If Hyundai decides to import and sell the car then costs of the vehicle will at more than double thanks to import duty structure and at about Rs 45 lakh the car will hardly see any buyers.

In an interview, Y K Koo, MD, Hyundai Motor India had mentioned that “Electric cars are a focus for us. We have to go by the government’s policy and norms, it’s better to implement electric cars on lower-segment products. For example, the Grand i10 and i20 and small cars are more convenient, easier, and more practical for electric than bigger-sized vehicles when it comes to the Indian market."

In an interview, Y K Koo, MD, Hyundai Motor India had mentioned that “Electric cars are a focus for us. We have to go by the government’s policy and norms, it’s better to implement electric cars on lower-segment products. For example, the Grand i10 and i20 and small cars are more convenient, easier, and more practical for electric than bigger-sized vehicles when it comes to the Indian market."

While move to EVs for India is inevitable one should also accept that it is not easy for any manufacturer to shift its entire product portfolio to electric. Expect key segments like hatchback and sub-4-meter sedan space to first get electric variants before we see electric SUVs and premium cars.

  Hyundai Grand i10 and Hyundai i20 have been the most successful model for the company and electric variants of these cars would rather be easy to market and would prove more successful for the company more than bringing in the Ioniq brand.

We will see Hyundai Ioniq in India and the company might also flaunt it at the 2018 Auto Expo but a market launch is unlikely before India becomes a matured EV market.

 

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