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Hyundai Is Striving For The Top Rank In The Indian EV Market

Its objective to become the market leader is to develop a diverse selection of electric cars.

Hyundai will launch six EVs by 2028. Its plant is capable of producing ICE, EVs. It currently sells Kona Electric, Ioniq 5 and Creta. Tata has set itself a target of selling one lakh vehicles by end of FY24. Mahindra wants to sell two lakh EV by 2027.


Hyundai hasn’t created a big foothold in the EV market despite getting an early start with the Kona Electric, but that could change shortly. The Ioniq 5, which was released at a very competitive price of Rs 44.95 lakh, is the first modest volley in a series of EVs with which the business hopes to become a market leader.

Hyundai plans to debut six EVs by 2028. Its plant can produce ICE, EVs, and hybrids. Kona Electric and Ioniq 5 are currently available.

It intends to have a diverse portfolio of electric vehicles, ranging from small EVs to large SUVs, built on a variety of platforms, which might include both ICE-derived electric vehicles and a specialised EV skateboard to suit to different pricing points. According to a top company official, it would even contemplate a separate EV factory if the market grew quickly enough.

“We want to be number one in electrification in India,” stated Unsoo Kim, MD of Hyundai India. We didn’t expect India to grow so quickly, but the electrification trend in India is growing quicker than I imagined. We have a lot of resources for electrification around the world, but we want to start a new chapter with India.”


Striving For The Top Rank In The Indian EV Market

Hyundai has already committed Rs 4,000 crore to developing a half-dozen model portfolios by 2028. It has also been reported that the corporation will launch an E-GMP platform for the Indian market.

“We will cover all EV ranges, some with dedicated EVs, some with ICE derived. We started with some ICE versions before moving on to a specialised model. All automakers now offer specialised EVs as well as EV variants of ICE cars. Finally, I am confident that all segments will be EVs. We are investigating all portions. “We have the Ioniq 5, Ioniq 6, and Ioniq 7 from E-GMP, but we’ll also focus on the smaller automobiles,” Kim continued.

Tata controls more than 85-90 percent of the Indian electric vehicle market. Mahindra, another domestic contender, has also entered the race with the XUV400. Both automakers have set a lofty goal for themselves. Tata has set a goal of selling one lakh vehicles by the end of fiscal year 24, and Mahindra intends to sell two lakh EVs by 2027.

“We want to be a very trusted brand in India, not only in the internal combustion engine arena, but also in the electric vehicle market,” Kim says of how Hyundai anticipates EV penetration to be by the end of the decade. The Indian government is strongly encouraging EV use. Some automotive forecasters predict a minimum of 50%.

According to my understanding, a 20% penetration is conceivable in India.” When asked where Hyundai planned to manufacture this new line of EVs, Kim stated that the present plant can build both EVs and IC engine models.

When asked if the company is looking into establishing a specialised EV manufacturing, he stated, “As demand increases, we are considering all options” (including a dedicated EV plant). In terms of capacity, we have gradually increased capacity over the previous two and a half decades. We are currently exploring all options. We will match the demand of our Indian clientele.”


Our all-electric vehicle. 2023 KONA Electric has a range of 258 miles on a fully charged battery and 120 combined MPGe. MPGe is the EPA-equivalent metric of gasoline fuel efficiency when operating in electric mode. All data are EPA estimates and are provided solely for comparative purposes.

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In India, there will be 25 electric automobiles on the road by 2023. The BMW i7, Tata Tigor EV, Mercedes-Benz EQB, Hyundai Ioniq 5, and BYD Atto 3 are well-known electric vehicles.

The least expensive electric automobile in India is the Hyundai Ioniq 5. Hyundai Ioniq 5’s starting on-road price in Delhi is 44.95 Lakh, and it can seat 5 people. The Hyundai Ioniq 5, whose on-road price in Delhi begins at 44.95 Lakh, is India’s most expensive electric vehicle. 

Any motor vehicle must be operated with a valid driver’s licence. Electric cars are no different. Driving a car without one is prohibited on public roads.

You do not need a driver’s licence to operate an electric two-wheeler with a top speed of up to 25 km/h and a power output of up to 250 watts, though. Students, youths, retirees, and others favour these automobiles because they don’t need to be registered.

All vehicles registered after April 1st, 2019, must have an HSRP by the rules related to the Central Motor Vehicle Rules, 1989. (High-Security Registration Plate). This registration can only be obtained from government agencies, enabling them to keep an exhaustive database of all vehicles and deter theft.

Electric vehicles are now exempt from paying costs for a registration certificate, according to the Ministry of Road Transport and Highways (MoRTH).

All EV owners should be happy about this recent move because they won’t have to pay anything to insure or renew their EVs. More electric vehicles are anticipated to be promoted in India as a result of these adjustments to registration fees.

Additionally, the government exempted owners of electric vehicles from paying road charges. As a result, owners of electric cars will undoubtedly benefit by saving money. According to studies, owning an electric vehicle can significantly save your vehicle expenses.


Public charging is the term for outside-the-home charging, which is an essential addition to inside-the-home charging. The sole subject of this article is public charging. Interoperability between charging stations and electric vehicles produced by various automakers is made possible by the standardisation of public charging infrastructure. 

1. Bharat EV Charger AC001 for AC Charging.
2. Bharat EV Charger DC001 for DC Charging.

Note: Slow, fast, rapid, and super-quick charging can cause confusion because there is no standard definition for each category. So, according to Bharat EV standards, charging choices are categorised according to the quantifiable standard of power rating.

Yes. According to the law, every vehicle, including gasoline, diesel, compressed natural gas (CNG), and electric cars, must have at least a third-party insurance policy. Financial fines may result from not having your electric car insured under this mandated coverage. However, this plan does not protect the insured vehicle in case of damage. Therefore, it is advised to choose the Comprehensive Insurance Policy because it provides both Own Damage (OD) coverage and Third-Party Insurance Plan benefits.

Aside from factors like location, model variation, and EV age, the cost of the vehicle determines the price of all motor insurance plans. You may assess the cost of insurance for electric vehicles by using the car insurance premium calculator for more information.

According to how much electricity is used as a fuel, there are three main categories of electric vehicles (EVs): battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs).