Hyundai Motor Co. announced plans to launch an electric version of its compact SUV, Creta, in India in January 2025. This model will be the first electric vehicle (EV) to be produced at Hyundai’s plant in India, which is the world’s third-largest automobile market.
The introduction of the electric Creta aims to strengthen Hyundai’s SUV lineup tailored for Indian consumers, as the company targets an annual production output of 1 million vehicles by 2030. “With the roll-out of the electric Creta, Hyundai will bolster its SUV lineup tailored to Indian drivers,” the company stated.
Hyundai has also outlined plans to introduce four additional EV models in the South Asian market by 2030, despite recently reducing its global vehicle sales targets for that year by 6%. The Creta, which was initially launched in India in July 2015, has been well-received, selling 40,888 units in its first year and winning the Car of the Year award in 2016. The model is designed with features that cater to Indian family needs, including a spacious rear seat and a higher bumper height for improved handling on poor road conditions.
In the last few years, Hyundai has expanded its SUV offerings, introducing models such as the three-row SUV Alcazar in 2021 and the compact SUV Exter in 2024, the latter winning the Car of 2024 in India. As of now, Hyundai’s sales figures indicate that more than half of the 602,111 cars sold in India last year were SUVs, with the Creta, Alcazar, and Exter leading the sales.
Hyundai’s strategy in India contrasts with that of its competitor, Maruti Suzuki, which focuses more on light vehicles. Maruti remains the top-selling brand in the country but has seen its market share decrease from 51.4% in 2018 to 40.8% this year.
To further enhance its operations in India, Hyundai acquired a plant from General Motors in Pune in 2023. This facility is currently undergoing renovations to become a smart factory with an expected annual capacity exceeding 200,000 units. Once operational, combined with its Chennai plant, Hyundai aims to achieve a total production capacity of 1 million units annually.
Additionally, Hyundai plans to establish 485 EV charging stations across India by 2030 and collaborate with its affiliate Kia Corp. to produce lithium-ion phosphate (LFP) batteries with Exide Energy Solutions Ltd. for its EVs dedicated to the Indian market.
Source: Kedglobal
