Hyundai Motor India is all set to launch its electric vehicle in India by 2019. The company will introduce it’s Kona electric SUV in 2019. The company is also optimistic to launch an electric version of its Xcent entry sedan as well as Ioniq mid-size, as per some media reports.
Hyundai is India’s second largest car maker and India is the fourth largest market for the company after China, US, and South Korea. The company plans to invest $1 billion over the next year to further expand its presence in the Indian market which includes investments on electric vehicles.
The company has urged the government to present a clear roadmap for its plan to shift to electric vehicles. It has also asked for the regulatory push and more incentive and benefits like tax cuts for the electric vehicles and Lithium batteries. The company also pointed out the pressing need to develop charging infrastructure in the country to increase the penetration of electric vehicles which falls in the government’s purview.
If Hyundai is able to launch its electric vehicle before its arch rival Maruti which looks very likely, the Korean company will get the early mover advantage over India’s largest carmaker, Maruti Suzuki. Maruti aims to launch its first affordable electric vehicle (EV) based on technology from parent Suzuki Motor by 2020. Nissan Motor also plans to launch an all-electric budget small car in India.