Hyundai Motor India has revealed that it will be launching five new electric vehicles starting with the Creta EV, which is slated to be launched in th
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Hyundai Motor India is ramping up its electric vehicle (EV) strategy in India. The company, which currently offers the Kona Electric and Ioniq 5 EVs, plans to launch four new models, including a mass-market option like the Creta EV by Q4 FY 2024-25. This builds on their earlier commitment of introducing five locally-produced EVs by 2030.
This plan was revealed in Hyundai’s draft Red Herring Prospectus (DRHP) filed with SEBI. The document highlights their focus on aligning their EV strategy with evolving market demands by introducing vehicles across various price segments to cater to a wider audience.
What can be expected from the Hyundai Creta EV?
The Creta EV seems to be a good starting point for Hyundai to begin its EV portfolio. The car boasts of a redesigned front, distinct from its internal combustion engine (ICE) counterparts and is expected to inherit most features from the ICE variants with some EV-specific additions. While official specifications are yet to be revealed, reports suggest a driving range of around 400-500 km.
Recent spy shots offer a glimpse into the Creta EV’s design. The front features new signature LED DRLs similar to the 2024 Creta facelift, while the taillights remain identical. However, unique windmill-inspired alloy wheels, a signature design element for Hyundai EVs, set the Creta EV apart.
The interior also undergoes a transformation. The steering wheel resembles the one seen in the global Kona facelift EV, featuring a three-spoke design with integrated controls. Additionally, a new digital instrument cluster is visible. Reports hint at a comprehensively redesigned dashboard with touch-based climate controls, a reworked centre console, and a potential dual-screen setup reminiscent of the Kona or Ioniq 5.
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The Creta EV is expected to be packed with features, potentially including a panoramic sunroof, a 360-degree surround view camera, and Level 2 ADAS technology. Spy shots revealed a front camera positioned at the centre of the closed-off grille, hinting at the advanced driver-assistance system.
Priced between ₹20-30 lakh, the Creta EV will compete with a growing electric SUV segment, including the Mahindra XUV400, MG ZS EV, Tata Curvv, Maruti Suzuki eVX and BYD Atto 3.
Story beyond Creta EV
Hyundai Motor India (HMIL) is shifting its focus towards mass-market electric vehicles (EVs) as the Indian EV ecosystem matures. They aim to achieve price competitiveness by localising key components like batteries, power electronics, and drivetrains.
To achieve this, HMIL has leased a part of their Chennai plant to Mobis, a Hyundai group company, for EV battery assembly. This will significantly reduce import costs. Additionally, they recently partnered with Exide Energy Solutions Ltd. to further localise battery production in India. HMIL is also exploring other collaborations for battery production.
Localising EV production not only reduces costs but also allows HMIL to qualify for government production-linked incentives (PLI) schemes. In the long term, the company plans to transition to a dedicated EV platform for further cost optimisation.
First Published Date: 18 Jun 2024, 10:33 AM IST