The Creta EV is expected to cost between 15 lakh and 30 lakh and the market launch will take place in Q1 2025.
While Auto Expo 2023 this week will have hyundai show off their show-stopper ionq 5 and ioniq 6 EVs, the Korean brand started researching something more mainstream for our market until EVs developed.
- Hyundai Creta EV will go on sale in early 2025
- Will compete with Maruti’s upcoming YY8 EV SUV
- Hyundai to launch six EVs by 2028
Our sister publication Autocar Professional learns that Hyundai has begun development of an all-electric Creta, known internally as the SU2i EV project, which is likely to debut at Auto Expo 2025 The Creta EV is expected to go into mass production in the last quarter of 2024.
The EV SUV is expected to be shown in production form at Auto Expo 2025, and the market launch is likely to take place in the first quarter of 2025. The Creta EV will arrive around the same time as its rival. it – Maruti’s YY8 electric SUV.
YY8 will probably debut at the big show in the next few years. This SUV is being jointly developed with Toyota and both brands will manage their respective versions. Regarding the Creta EV, sources tell us that Hyundai is aiming for a modest 20,000 to 25,000 units per year for the domestic market. Interestingly, it is similar to the amount that Maruti Suzuki has planned for the upcoming YY8 EV.
Hyundai takes top-down EV approach for India
The question is how will they do it? Considering the multitude of macro variables that will be involved, Hyundai’s management will opt for a top-down three-tiered approach. The first step is to use fully knocked down or fully built imported units like the Ioniq 5 and Kona điện electricity; the second step is where it will develop an electric vehicle derived from an internal combustion engine platform, which is where the Creta EV fits in; and finally the full localization of the E-GMP platform, which will be used for the Indian and global markets.
Until the Creta EV is ready, Hyundai will rely on the Kona and Ioniq 5 at the top level to establish brand credentials, even if it already has sourcing, manufacturing, and infrastructure in place. charging stage.
Expected price of Hyundai Creta EV in India
Sources say the Creta EV could cost between Rs 15 lakh and Rs 30 lakh. This space is set to become the core of electric vehicle offerings. homegrown Tata engine and Mahindra & Mahindra is also likely to launch into the space at least half a dozen new services.
Hyundai’s manufacturing facility in Chennai has seen a lot of reuse and is said to be ready to accommodate the production of electric vehicles based on the ICE platform. In fiscal year 2022, Hyundai Motor India invested Rs 1,472 billion in expanding the factory capacity to 8.5 thousand units to meet future demand.
More Hyundai electric vehicles by 2028 in India
India is a very strong market for the Korean brand, and so it is natural that India has become an integral part of the headquarters’ shift to electric vehicles. The parent company HMC has planned an investment portfolio including: half a dozen electric cars for India by 2028. Hyundai will spend nearly $500 million (over Rs 4,000 crore) for this purpose. In its fiscal year 22 annual filing with the Ministry of Enterprises, the company said it is accelerating its electric vehicle plan in India as it expects the electric vehicle market to grow at a compound annual growth rate of 90 % to $150 billion by the end of fiscal 2020. decade.
Government support for electric vehicles is important
Last October, in light of the growing penetration of electric vehicles, Hyundai Motor India said the drivers of electric vehicle adoption were rising fuel prices and higher ICE vehicle costs affecting the ability to drive electric vehicles. their payment. Government support for electric vehicles is also playing a big role. “Central programs such as FAME and PLI have increased investment in electric vehicle production,” the company said in a note. “Many state governments have also provided demand incentives and capital support to establish new manufacturing plants.”
Also see:
Hyundai Ioniq 5 launched at Auto Expo 2023
All-new Hyundai Kona revealed
