Representational Hyundai Creta EV will go on sale in the final quarter of this financial year and it will compete with upcoming Tata Curvv EV and midsize e-SUVs from Maruti Suzuki and Toyota Hyundai currently sells the Ioniq 5 and Kona Electric in the domestic market and is planning to expand its EV range with the addition of new models in different price brackets in the coming years. According to the preliminary IPO documents submitted to SEBI, Hyundai intends to introduce four electric vehicle models in the near future. The range will include the electric version of the Creta, which has been spotted testing multiple times on public roads and is set to debut in the final quarter of this fiscal year.
The second largest carmaker in the country aims to enhance the price competitiveness of its upcoming EVs by prioritising local production of essential components. They include battery cells, battery packs, power electronics, and drivetrains. Additionally, it plans to develop a domestic supply chain to support these efforts and to competitively price the models against competitors.
Hyundai has been adopting a phased approach as it initially launched high-end premium EVs and is planning to gradually shift towards the mass market. Pic Source: Auto Spy HMIL has leased part of its manufacturing facility in Tamil Nadu to Mobis, a Hyundai Motor Company (HMC) group firm, to assemble EV batteries. This arrangement will supply the company with locally assembled battery packs, thereby reduc.
