Hyundai set to be the leading firm selling electric cars in India
The Korean motor company Hyundai is set to be the first firm to introduce electric cars in India, taking advantage of Prime Minister Narendra Modi’s aim to make all new cars on the subcontinent electric by 2030.
At the Auto Expo in New Delhi on Wednesday, Hyundai has announced it will bring electric vehicles to India next year, competing with Maruti Suzuki India which announced it would introduce its first electric car in 2020.
Hyundai’s IONIQ project is under marketing study with the company considering local manufacturing dependant on the government’s support.
Hyundai’s CEO and managing director, Y.K. KOO said that the company wants to deliver eco-friendly cars and at the same time maintain driving dynamics and performance.
"The IONIQ is a significant leap forward for Hyundai Motor as it intensifies its commitment to produce highly efficient, eco-friendly vehicles. Hyundai is a caring brand and we are committed towards clean mobility solutions to make a long-term transformation that will benefit our future generations," said the chief executive.
Car companies are hoping to get into the Indian electric vehicles business given how New Delhi was leaning towards that path. Currently, 3m diesel or petrol cars are sold annually in the country, with the government hoping to transition these sales to electric cars by 2030.
While some companies are already bringing out some models, other automakers are waiting for the government’s policies to be clearer.
Kia Motors, another South Korean company has said it will introduce electric vehicles once customers and infrastructure are ready.
Compared to China’s 215,000 charging points that were installed in 2016, India only has a few charging points spread around the country.