Trends
Hyundai and Kia to launch first India-made EVs by 2025
South Korea’s Hyundai Motor Group will launch its first India-manufactured electric vehicles by 2025 as the parent of the Hyundai and Kia brands looks to boost its presence in the nascent space dominated by Tata Motors. Indian market Hyundai’s largest market outside of North America and Europe is In…
Headline
South Korea’s Hyundai Motor Group will launch its first India-manufactured electric vehicles by 2025 as the parent of the Hyundai and Kia brands looks to boost its presence in the nascent space dominated by Tata Motors. Indian market Hyundai’s largest market outside of North…
Context
South Korea’s Hyundai Motor Group will launch its first India-manufactured electric vehicles by 2025 as the parent of the Hyundai and Kia brands looks to boost its presence in the nascent space dominated by Tata Motors. Hyundai’s largest market outside of North America and Europe is India, where its unit is preparing for the largest IPO in the country, expected to raise $3 billion.
Evidence
Pending intelligence enrichment.
Analysis
Hyundai, the second-largest automobile manufacturer in India, is best known for its best-selling “Creta” sport utility vehicle. It currently offers two electric models in India: the Kona and the IONIQ 5, neither of which is made there. The EV6, Kia’s only electric vehicle, is imported. Additionally, the company reiterated Hyundai’s goal of producing one million units annually by 2025 and announced plans to increase Kia’s capacity to 432,000 from roughly 300,000. There will be a 1.5 million unit increase in combined capacity. Also read: The 5 biggest EV charging companies Also read: How much does a commercial EV charging station cost?
Key Points
- Hyundai Motor Group of South Korea will introduce its first electric cars made in India by 2025.
- Production of Hyundai’s locally manufactured EVs will begin by the end of 2024 and will be launched by 2025, along with Kia’s India-made EV.
- Hyundai completed the acquisition of a former Chevrolet plant in western Maharashtra state earlier this year.
Actions
Pending intelligence enrichment.
