Electric vehicles accounted for just 1% of Hyundai’s total sales portfolio, with 3,969 EVs sold in FY25.
16 May 2025 | 903 Views | By Prerna Lidhoo and Kiran Murali
Hyundai Motor India, a late entrant in the country’s mainstream EV market, is set to roll out six new electric vehicles by FY30 as part of its long-term powertrain strategy.
“We are set to accelerate our presence in the EV market, building on the strong foundation laid in FY25 ...
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Hyundai Motor India, a late entrant in the country’s mainstream EV market, is set to roll out six new electric vehicles by FY30 as part of its long-term powertrain strategy.
“We are set to accelerate our presence in the EV market, building on the strong foundation laid in FY25 with the launch of the Creta Electric,” said Unsoo Kim, MD, Hyundai Motor India. He noted that the Creta Electric has received a positive response from customers, benefiting from the legacy and wide acceptance of its internal combustion engine (ICE) counterpart.
Discussing the company’s aggressive future product plan—which includes 26 launches, comprising 20 ICE vehicles and 6 EVs—COO Tarun Garg said, “The prime focus will definitely be on SUVs, as we have clearly seen a strong customer preference for them. EVs are also slowly catching up, and we have a robust localization plan that will further support the introduction of these EVs.”
While EV adoption in India remains relatively low compared to global markets like the US, China, and Europe, the Creta EV has contributed to the segment's growth, Garg noted. “EV penetration in India stood at around 2.4%, but following the launch of the Creta EV and other models, it has already risen to approximately 3.4%. We anticipate this could grow to 13–14% by 2030,” he added.
Electric vehicles accounted for just 1% of Hyundai’s total sales portfolio, with 3,969 EVs sold in FY25.
“Currently, we offer the IONIQ 5 in the premium EV segment and the Creta EV in the mid-size SUV segment. We clearly see opportunities across categories, including below the Creta segment, which we are actively evaluating,” Garg said.
Hyundai Motor India is laying out a comprehensive EV roadmap that spans new product development, supply chain localization, and charging infrastructure expansion. The company plans to launch multiple EVs across segments, identifying a "blue ocean" of untapped potential in both premium and mass-market categories. On the supply side, Hyundai has already localized battery system assembly (BSA) and is now exploring cell-level localization with an Indian partner, alongside efforts in drivetrain and power electronics.
A major strategic shift is underway in Hyundai’s approach to charging infrastructure. While earlier efforts focused on AC chargers, the company is now prioritizing DC fast-charging stations—especially along highways—in response to consumer demand for long-distance EV usability. “Customers are happy with home charging, but there’s anxiety about highway travel. That’s where we’re stepping in with fast-charging stations,” Garg added. The company has accelerated its DC fast-charging plans, both at dealerships and along highways. In fact, 89 DC chargers are already operational, and Hyundai aims to install 600 by 2032.
While interest in EVs has grown over the past year, Garg acknowledges that charging infrastructure and range anxiety remain key challenges. “Compared to 12 months ago, there’s been a dramatic shift in customer interest, and traction is clearly increasing. The tailwinds are strong, but the headwinds around charging infrastructure and user anxiety persist,” he said.
With the launch of the Creta Electric, Hyundai aims to address some of these concerns by improving the home charging experience.
The launch of Hyundai’s first locally manufactured mass-market EV has reinforced its commitment to India’s electrification journey, Kim said. He added that Hyundai Motor India’s localization strategy aligns closely with the Government of India’s Make in India vision. “We are leveraging India’s rich talent pool, engineering strength, and domestic resources to build world-class technologies locally. Over the past five years, we have localized more than 1,200 components to strengthen our supply chain ecosystem.”
Hyundai’s localization strategy, Garg believes, is the push needed to accelerate EV adoption. “EV prices have to come down, and for that, localization is essential. Battery packs have already given us some impetus, and cell localization, going forward, should provide another advantage. We are very confident and highly optimistic about the EV landscape,” he said.