Recently, Hyundai Motors supported EV giant Tesla’s demand for import duty cuts in India
With the electric vehicle market in the country steadily growing, South Korean auto giant Hyundai and its sister brand Kia will be introducing a series of EVs in India, as per a recent report.
An Autocar Pro report claimed that the automakers are in the process of introducing as many as 6 new electric vehicles in the country.
Both Hyundai and Kia will be launching three new EVs each by 2024. The brands will share R&D and platforms to cut the cost of manufacture and launch the EVs at competitive prices.
These vehicles will sit on a low-cost skateboard platform and will be heavily localised in order to keep a sub-Rs 15 lakh entry price, which is critical for benefits like FAME subsidy.
Both, the Hyundai and Kia entry-level EVs will be SUVs, and have good ground clearance, which is a crucial issue for all battery powered electric cars.
The first set of vehicles to be introduced under this partnership will be the Hyundai Ioniq 5 and Kia EV6. Both the cars will share the same E-GMP platform that has been designed specifically for EVs.
Hyundai recently unveiled the Ioniq 5 in the global market and it’s expected to come to India by 2023 as Completely Built Units. The Kia EV6 will make its debut in 2022. The new platform used on the vehicle pushes the wheels to the corner making more space in the cabin. Despite using the same platform, the Ionic has a longer wheelbase of 3,000 m as compared to EV6’s 2900mm.
The companies are also planning to introduce a low cost made in India EV to offer budget options in the segment. The car could come in the sub-Rs 15 lakh segment offering competition to the likes of Tata Nexon EV in the Indian market.
Recently, Hyundai Motors supported EV giant Tesla’s demand for import duty cuts in India saying that any duty rate cut by the government on imported electric vehicles would be very beneficial as it would help automakers generate much-needed volumes and reach some viable scale.