Hyundai, Kia To Build India-Specific Electric Cars

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Hyundai has not specified a timeline for the launch of its electric car for Ola.

Hyundai and Kia have announced a big investment in Ola and a part of that investment will go into developing India-specific electric cars. Apart from manufacturing electric cars, the investment is also aimed at developing fleet and mobility solutions, infrastructure and “nurturing best in class opportunities and offerings for aspiring driver partners” for Ola, reported Car Dekho.

Hyundai has not specified a timeline for the launch of its electric car for Ola. But before this India-specific electric car is rolled out, the South Korean carmaker will introduce a compact electric SUV in India in the form of the Kona Electric. The Kona Electric will not be manufactured in India, but will be assembled here.

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Hyundai was previously shying away from investing in electric car technology in India owing to the lack of clarity on policy. While the government is yet to roll out a long-term strategy on electric vehicles, it has announced the second round of FAME scheme. Under the new scheme, a Rs 1.5-lakh incentive has been reserved for 35,000 electric cars that cost under Rs 15 lakh. The scheme is effective till 2021-22.

The Competition is Tough
Like Hyundai and Kia, Maruti Suzuki is also developing an electric car for India, based on WagonR. But, it is yet to announce how it plans to develop infrastructure for buyers and fleet operators. 

Like Hyundai-Kia, Tata is also investing in developing charging infrastructure for electric vehicles in India. Though Tata already offers Tigor EV to government-run EESL (Energy Efficiency Services Limited), the carmaker is yet to offer the car to private buyers. The only carmaker in India at the moment that offers electric cars to private buyers is Mahindra.

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