Hyundai bullish on India EV growth story, plots 6 BEVs by 2028

Hyundai Motor India, which was the first carmaker to launch an electric SUV in India – the Kona – has today outlined a bold new model strategy designed to make the most of the growing EV market in India.   

Hyundai, which currently has the Kona and the Ioniq in its global EV portfolio, will expand its line-up to six Battery Electric Vehicles (BEVs) for the Indian market by 2028. According to the company, in an effort to cater to a wide range of buyers, the six BEVs for India will cater to multiple segments including mass market and mass premium segments. They will be offered in different body styles including the popular SUV segment by 2028.

At present, Hyundai's presence in the Indian EV market is with the Kona SUV. Launched in July 2019 at Rs 25.3 lakh, the Kona has sold a total of 626 units till end-October 2021. Hyundai expects India's electric PV market to grow to 175,000 units by 2028 and aims to be a strong player with its varied product range.  

Commenting on the newe development, S S Kim, MD and CEO, Hyundai Motor India, said: “Hyundai has been at the forefront of the electric mobility revolution in India, with the introduction of India’s first electric SUV, the Kona Electric in 2019. As we continue to redefine the mobility space, we are yet again showcasing our commitment towards Indian customers with the announcement of expanding our BEV line-up to 6 vehicles for the Indian market by 2028. At Hyundai, we are taking experiences beyond mobility and are strongly focusing on Intelligent Technology, Sustainability and Innovation."

He added, “In line with this thought, we will introduce our dedicated BEV platform – E-GMP – as well as modified platforms for battery electric vehicles in India. By driving the adoption of electric mobility at scale in India, Hyundai will become the fulcrum for transformation of a brighter and better tomorrow.”

Hyundai to invest Rs 4,000 crore in EV program
Hyundai Motor India will invest approximately Rs 4,000 crore to expand its EV line-up from the sole Kona Electric today to six BEVs by 2028. Speaking to Autocar India, Tarun Garg, director of Sales, Marketing and Service at Hyundai India, said: “The range will comprise of a total of six BEVs (battery electric vehicles) across different segments and body styles. These EVs will span different segments like mass market and mass premium and will include an SUV, sedan and CUV (Compact utility vehicle).

While Hyundai is yet to announce which EV models will be launched in India but the first will be the Ioniq 5, expected by the middle of next year as a CBU. This will be closely followed by the facelifted Kona Electric, which will be assembled here. “In 2019, we launched the Kona and made some good experiments and got very good customer feedback, so we are ready and all charged up,” said Garg.

What’s E-GMP?
The next generation of electric cars from the Hyundai Motor Group (HMG) will sit atop the new Electric-Global Modular Platform (E-GMP) architecture, which began with the boldly styled Hyundai Ioniq 5 crossover in September 2021.

The Korean group's first bespoke EV architecture will go on to underpin cars of varying sizes from Hyundai, Kia and Genesis, ranging from hatchbacks to full-size SUVs, as part of its strategy to introduce 23 full EVs by 2025 and sell more than 1 million BEVs worldwide by 2025.

The E-GMP platform for future EVs marks a new era for the brand. This dedicated BEV platform comprises vehicle chassis that includes the battery, motor and power electric system. With scalable dimensions, this platform will form the backbone of different types of vehicles. With an innovative interior packaging vehicles developed on E-GMP will feature a flat floor, slim cockpit and a flexible and spacious cabin.

E-GMP has been developed on 4 key pillars:
Modularity – With one platform that can facilitate many body types, feature a modularised battery system and create greater synergies with BEV component sharing.
Reliability – Featuring a low centre of gravity, use of Ultra High Strength Steel and 8-point battery mounting, E-GMP will pave the way to highly reliable BEVs of the future.
Usability – With a flat floor and flexible seating layout as well as an innovative interior space that offers sliding console and sliding second row seats, E-GMP will usher in a new dimension of usability
Performance – Featuring a large battery capacity up to 77.4 kWh, 2WD/ 4WD capabilities, improved handling and capability to achieve a top speed of 260kph, E-GMP will drive in a new age of fun-to-drive EVs

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Plan to localise BEV manufacturing synergies
In what can be seen as an effort to achieve lower costs, Hyundai says it has “worked towards the development of a concrete BEV roadmap that will breathe life into the electrification ecosystem in India, focusing on localisation of manufacturing synergies for Battery Electric Vehicles.”

This will involve strategic collaborations to drive widespread adoption of BEVs in India. The carmaker will also work towards developing customer-centric BEV charging solutions with a focus on:
- Home Charging
- Public Charging station
- Charging Facility at HMIL Dealer Network
- 24x7 roadside assistance

At present, Tata Motors, with its Nexon, Tigor and X-Pres T EV, is ruling the India electric passenger vehicle market and is headed for record 12,000-unit sales in FY2022. Hyundai's six-model assault on the Indian EV market will be the first real challenge to Tata Motors. Clearly, India's EV market, which is already seeing strong growth in the two- and three-wheeler segments, is in for exciting times on the four-wheeler front. Stay tuned for more updates.