Hyundai Motor India has silently discontinued its first electric offering – Kona EV. The electric SUV was introduced in July 2019 at Rs 25.30 lakh, but its prices were later reduced by nearly Rs 2 lakh to compete with the MG ZS EV, Tata Nexon EV and Mahindra XUV400. Despite this price reduction, most of its arch rivals remained relatively more affordable, leading to the Kona EV losing market share. Currently, select Hyundai dealers might be clearing their stock with attractive discounts and benefits.
Talking about Hyundai’s future EV plan for India, the South Korean automaker aims to expand its EV product portfolio with four new models including Creta EV and Exter EV. The electric iteration of the Creta is slated to launch in the last quarter of the current fiscal year. In order to achieve competitive pricing, the company’s primary focus is on local production of batteries, cells, power electronics and powertrain.
Furthermore, Hyundai is planning to build a localised EV supply network. In April 2024, the automaker announced a strategic partnership with Exide Energy Solutions Ltd for EV battery localization in the country. It also aims to optimise manufacturing costs by developing a dedicated EV platform and expand EV infrastructure by setting up charging stations.
Hyundai has setup 11 fast charging stations till March 31, 2024. It targets to increase EV charging stations to 100 across all major cities and highways by 2030. There will be 85 single fast charging stations (DC 60kW), 10 single fast charging stations (DC 150kW), and 5 dual ultra fast charging stations (DC 150kW + DC 60kW).
Hyundai Motor India is also testing the Exter EVwhich will be positioned against the Tata Punch EV. The carmaker’s Tamil Nadu-based facility will serve as production hub for its upcoming EVs. It would be quite early to comment on its powertrain specs. The micro EV is likely to come with battery pack ranging between 25-30kWh and offer a range nearly 300km – 350km.
