Hyundai to Make Electric Car Components in India

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The South Korean car maker aims to launch its first electric vehicle in India within 2019. Hyundai is also looking to introduce its hybrid vehicles in the country.

Hyundai Motor, which has already announced it plans to bring electric vehicle offerings in the Indian market, will be manufacturing some parts of these EVs within the country, according to India Times.

The South Korean car maker is in talks with its strategic partners to invest in the production of components for electric vehicles in the country, the report said quoting Seon Seob Kim, managing director, Hyundai Motor India Ltd.

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The company aims to launch its first EV product in the country within 2019. Kim says that the car will be brought in a complete knock-down (CKD) form and will then be assembled in Hyundai’s Chennai plant.

In addition, Hyundai is looking to introduce its hybrid vehicles in the country. Kim believes that with the ongoing transition from internal combustion (IC) engines, hybrids will soon have an ample demand in the country.

Moreover, the central government’s recently introduced FAME-II will also boost the demand. The scheme offers support for 10,000 units of hybrid vehicles over the next three years.

 

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