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Will rival Maruti Suzuki’s YY8 EV SUV Slated to launch in 2025 South Korean automaker to introduce 6 new SUVs by 2028
While the Delhi Auto Expo 2023 will see Hyundai Motor India unveil their Ioniq 5 and Ioniq 6 EVs, the automaker has also started to work on a more mainstream electric offering for the Indian market. According to a media report, the South Korean automaker is believed to have started work on a pure-electric version of the highly popular SUV - the Hyundai Creta. Codenamed project SU2i EV, it is likely to premier as a production model at the 2025 Delhi Auto Expo and will launch shortly after during that year.
Hyundai Creta EV: What we know so far
While details are scarce, it would be an electric derivative of the Creta. The electric vehicle is expected to be introduced at the same time as its main rival, the upcoming Maruti Suzuki YY8 EV SUV. Both vehicles could be showcased at the 2025 Indian Auto Expo. Once in production, the automaker aims to sell around 20,000 to 25,000 units of this electric SUV in the Indian market.
Hyundai Creta EV: Price in India
It is believed that the upcoming 2025 Hyundai Creta EV is likely to be priced between Rs 15 to Rs 30 lakh (ex-showroom). This is a range that is expected to become the average price point for new compact EVs in the country. Rivals like Tata Motors and Mahindra & Mahindra are also planning to launch their upcoming electric models around this price bracket.
Hyundai: Three-tiered approach for Indian EV market
It is said that the brand will tackle the Indian electric vehicle market with a three-tier approach. The first step is to use CKD kits or CBU imports, like the Ioniq 5 and the Kona Electric. Second step will be developing an ICE platform-based EV, with the upcoming Hyundai Creta Electric to slot in this. The last step is to fully localize the E-GMP platform which will be used for both Indian and international markets.
Till the Creta EV arrives, Hyundai will use the Kona Electric and the Ioniq 5 to cement its EV credentials while sourcing, manufacturing and charging infrastructure development takes place in the background. The company’s manufacturing facility in Chennai is currently being upgraded to accommodate the production of ICE-based EVs. In FY2022, Hyundai Motor India had invested Rs 1,472 crore in order to expand the plant’s capacity to 8.5 lakh units in anticipation of future demand.
Read Also: Hyundai Ioniq 6 to be Revealed at Delhi Auto Expo 2023
Hyundai to launch 6 EVs by 2028 in India
Being the second-largest manufacturer in the country, India is a big market for Hyundai. The automaker has planned up to 6 new EVs to be launched by the year 2028, with a projected spend of close to Rs 4,000 crore for this purpose. The brand has stated that it is accelerating its electric plans in India as it is projecting a 90 percent market growth for EVs by the end of the decade.
Source: Autocar Professional
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