Hyundai is gearing up to expand its electric vehicle (EV) line-up in India with the launch of four new models. The company plans to commence its EV offensive in the country early next year.
As Hyundai prepares for what could potentially be India’s biggest IPO this year, valued at an estimated $2.5-3 billion, the company has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The DRHP reveals that four EVs are in the pipeline as part of Hyundai’s plans.
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The first of these new models will be the Hyundai Creta EV, scheduled for launch in Q1 2025. The Creta EV will be based on the second-generation Hyundai Creta, which was introduced in India at Auto Expo 2020 and has been a popular choice in its segment.
The Hyundai Creta EV is expected to feature a permanent magnet synchronous motor sourced from the second-gen Hyundai Kona Electric’s Standard Range variant. This motor generates 99 kW and 255 Nm of torque. Powering the motor will be a 45 kWh battery pack sourced from LG Chem, although details about the battery chemistry and range are yet to be disclosed.
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Production of the Hyundai Creta EV will take place at the company’s factory in Sriperumbudur (Tamil Nadu), making it Hyundai’s first locally manufactured electric vehicle in India. Production is expected to commence by the end of 2024, with the first unit rolling off the assembly line in January 2025.
In addition to the Creta EV, Hyundai plans to launch another mass-market EV in India in 2026, likely a pure electric variant of the next-gen Hyundai Venue. The Venue EV is expected to be manufactured at the former GM plant in Talegaon (Maharashtra), which Hyundai acquired in January. The Venue EV will compete with rivals such as the Tata Nexon.ev and the MG ZS EV.
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The remaining two models in Hyundai’s EV line-up for India could be the Hyundai Ioniq 6 and the Hyundai Exter EV, with the latter rumored to be a conversion of the Hyundai Exter micro SUV. These new models are part of Hyundai’s efforts to strengthen its position in India, where a fifth of its global sales originate.
