Hyundai Motor India plans to launch EV models in future; electric version of Creta by Q4 FY25
Hyundai Motor India Ltd plans to launch four electric vehicle models in future, including Creta EV, in the last quarter of the current fiscal, according to the company's preliminary IPO papers filed with Sebi. The company is looking to maximise the price competitiveness of its electric vehicle (EV) models and intends to focus on securing local production capabilities for key parts, such as cells, battery packs, power electronics, and drivetrain and building a localised EV supply chain.
In the draft red herring prospectus (DRHP), Hyundai Motor India Ltd (HMIL) said it seeks to calibrate its EV strategy and plan EV timelines in line with market demands in India by launching the appropriate EV models within each price segment.
«We are following a transition strategy, having started with the launch of high-end premium EVs and plan to transition towards the mass markets as the EV market and ecosystem scales up in India. In line with the same, we aim to launch four EV models in future, including Creta EV in the last quarter of fiscal 2025,» the company said.
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At present, HMIL sells two EV models in India — IONIQ5 and Kona Electric — priced around Rs 45 lakh and Rs 24 lakh, respectively.
The company further said, «To maximise price competitiveness of our EV models, we intend to focus on securing local production capabilities for key parts, such as cells, battery packs, power electronics, drivetrain and building a localised EV
