Localisation will help us to bring down the battery cost and enable us to introduce more BEVs, says Tarun Garg.
| Photo Credit: BIJOY GHOSH
Hyundai Motor India officials along with Brand Ambassador Shah Rukh Khan at the launch of Ioniq5 Battery EV
Hyundai Motor India Ltd. (HMIL) will be focusing more on producing ‘Battery Electric Vehicles’ (BEVs) as it is the way forward and, hopefully, contribute in reducing the country’s huge oil import bills, said a top official.
“Hyundai has access to all technologies such as CNG, flex fuels, EVs, hydrogen, diesel, petrol and turbo,” Chief Operating Officer Tarun Garg told The Hindu. “But, we will be going in for BEVs as it is the way forward.”
“Currently, the EV penetration is only 2% and it is set to rise. The Indian government has given a clear mandate that BEVs are the way forward. OEMs are banking on BEVs and, so, Hyundai is also banking on BEVs, though we have access to all the technologies,” he said.
The country’s second-largest passenger vehicle maker has different strategies for different countries depending on infrastructure, taxation and government requirements.
Hyundai had already announced it will be investing ₹26,000 crore in its Chennai plant towards capacity expansion, new models and battery-pack localisation.
“Localisation will help us bring down battery cost and enable us to introduce more BEVs. From 2025, you will see the launch of more BEVs,” he added.
While stating that in the last 14 months, the carmaker sold 1,400 Ioniq5 BEVS, he said the introduction of Kona BEV and Ioniq5 helped them understand the behaviour of the BEV market in India.
By 2030, the Indian government discerns, the BEV market will be about 30% of the passenger vehicle (PV) market while the industry feels it will be about 20-22%. Hyundai sales will be on similar lines, he said.
On public-charging stations, he said Hyundai is working aggressively with dealers to increase the numbers. “Right now, it is about 10-11. The movement has started and in the next five years, you will see a rapid increase in infrastructure viz. charging points in several places,” he said.
Earlier, while unveiling Creta N Line, HMIL MD & CEO Unsoo Kim said India is a ‘focal’ market for them and the company’s commitment to customers remained unwavering.
Going forward, Hyundai will make strategic investments in increasing production capacity, setting up new manufacturing units, ‘democratising’ EVs, introducing products and technologies matching customer with the nation’s objectives, he added.
(The writer was in New Delhi on the invitation of Hyundai Motor)
