Hyundai Motor India (HMIL) has created a stir by launching Creta Electric in the Indian market this year. The company estimates that the share of EVs in the Indian car market will exceed 10 percent in the next 4-5 years. HMIL COO Tarun Garg says that the market for electric vehicles (EVs) in India is growing rapidly and the share of EVs in passenger vehicles will reach 12-13 percent in the next 4-5 years. The company will install 600 public fast-charging stations across the country in the next 7 years. This will help people to charge their electric vehicles easily.
3 new Hyundai EVs will come soon
Hyundai Motor India is planning to bring 3 new battery electric models in the coming time. Along with this,the company is also working on increasing the number of charging stations. Garg also said that now it is clear that EV is the future in the country. Earlier it was not clear whether EV,hybrid or any other technology would lead. But now the government policies are in favour of EV.
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Entry of big players in the EV segment
Speaking to news agency PTI-Bhasha,Garg said that big companies like Hyundai,Mahindra and Tata Motors are already making EVs. Now Maruti Suzuki is also coming into this segment. This shows that the reach of EV is going to increase even more.
Garg said that the use of EV is expected to increase steadily till 2030. In the next four to five years,the share of EV will increase from 2.5 percent to around 12-13 percent. This sector will grow steadily.
Emphasis on low-cost electric cars
Tarun Garg said that due to the good policies of the government and the increase in charging stations,now everyone is talking about EVs. Explaining what the Hyundai company is doing,Garg said that they are planning to bring three new battery-electric models. Along with this,they are also working on increasing the number of charging stations.
Garg said that we are fully prepared in terms of creating a supply chain and increasing the number of charging stations in India. We have full confidence in the future of EVs in India. Hyundai is trying to keep the price of its EV models low in India. The company plans to make essential parts like cells,battery packs,power electronics,and drivetrain in India itself.
Craze of Creta across the country
Let us tell you that Hyundai introduced the electric model of Creta earlier this year. The company is selling about 1,000 vehicles every month. Apart from this,the company also sells another expensive electric model called Ioniq 5. 18,059 units of Creta were sold in March.
It has become the best-selling model in the domestic passenger vehicle market. Garg also said that people are liking SUV vehicles more. He said that the share of SUVs has increased from 63.2 percent to 68.5 percent in FY 2024-25. It is expected that this figure will reach 70 percent in a year.
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